Household mortgage loans are growing, in line with the rise in home sales in recent months
MADRID, 1 Dic. (EUROPA PRESS) -
Credit granted by financial institutions to families and non-profit institutions residing in Spain increased by 0.4% in October compared to the same month last year, to 702,461 million euros, while financing for companies increased It increased by 1.09%, to 952,534 million euros, according to data published this Thursday by the Bank of Spain.
This represents an increase in the credit granted to families of 2,914 million and a rise of 10,355 million euros in those referred to companies in the last twelve months and in a context now marked by the impact on the Spanish economy of the war in Ukraine and price escalation.
In a monthly comparison, household indebtedness fell in October by 543 million euros in relation to the month of September, which is 0.08% less. On its side, the debt of companies stood in October 1,554 million euros below compared to September, 0.2% less.
Household mortgage loans, which represent the majority of its total debt, stood at 516,287 million euros in October, which is 3,189 million more than the figure of a year ago, although it falls slightly compared to the previous month. .
In this way, data from the Bank of Spain show that the amount that families allocate to their homes continues to occupy the majority of their indebtedness, since it represents around 73.5% of it.
On the other hand, household loans for consumption rose 1.5% in the monthly rate in October, up to 95,644 million euros, while the interannual rate also increased 1.5%.
For their part, family loans for other purposes totaled 87,181 million euros, compared to 88,173 million a month earlier, representing a fall of 1.1%. In the interannual rate, for its part, it recorded a decrease of 2.6%.
On the other hand, financing for companies in the tenth month of the year rose year-on-year, due to the rise in both loans with financial institutions and foreign loans, while debt values fell.
Specifically, bank loans from companies stood at 484,709 million euros in October, which represents a rise of 1.3% compared to the same month of the previous year. On their side, debt securities fell by 5.3% year-on-year, to 135,479 million. Lastly, foreign loans rose 3.6% year-on-year, to 332,347 million.
