75.3% of home mortgages were fixed rate, the highest percentage in the series
MADRID, June 24 (EUROPA PRESS) –
Home mortgages rose 4.5% to 33,423 loans last April compared to the same month in 2021, the highest single-month figure for April since 2010, when more than 50,000 mortgages were signed.
The home mortgage firm chained April’s advance to 14 months of consecutive year-on-year increases, according to data released this Friday by the National Institute for Statistics (INE).
However, April’s rebound, which weakened by more than 13 points from March’s, is the lowest year-over-year growth in home mortgages since February 2021.
The average home mortgage size rose 2.2% year-on-year to €142,253 in the fourth month of the year, while debt rose 6.8% to €4,754.5 million.
After autonomous communities, Andalusia (6,688), Catalonia (6,141) and Madrid (5,598) registered the most home mortgages in April 2022.
On a month-to-month basis (April vs. March), home mortgages fell 22.9% while debt fell 24.8%. In both cases, these are the biggest single-month drops since April 2018.
In the fourth month of the year, the average interest rate on all mortgage loans was 2.69% with an average maturity of 24 years. For homes, the average interest rate was 2.52%, up from 2.51% last year, with an average tenor of 25 years.
24.7% of home mortgages were signed at an adjustable rate last April, while 75.3% were signed at a fixed rate, a new all-time high.
The average interest rate was initially 2.16% for adjustable rate residential mortgages and 2.65% for fixed rate mortgages.
(((THERE WILL BE EXPANSION)))