MADRID, 21 Jul. (EUROPA PRESS) -
The number of mortgages constituted on homes fell by 24% last May compared to the same month in 2022, to a total of 33,398 loans, according to data released this Friday by the National Institute of Statistics (INE).
With the year-on-year decline in May, the home mortgage firm chains four months of negative rates after the 2% drop recorded in February, the 15.7% drop in March and the 18.3% drop in April.
The average amount of the mortgages constituted on homes fell by 4.6% year-on-year in the fifth month of the year, to 141,798 euros, while the capital lent decreased by 27.5%, to 4,735.8 million euros.
After the rise in interest rates agreed by the central banks to try to contain inflation, the average interest rate for all mortgage loans stood at 3.5% in May, with an average term of 23 years.
In the case of homes, the average interest was 3.15%, with a rise of 1.34 points compared to the same month of 2022 and with an average term of 25 years.
38% of home mortgages were established last May at a variable rate, while 62% were signed at a fixed rate. The average interest rate at the beginning was 2.79% for variable-rate home mortgages and 3.40% in the case of fixed-rate ones.