The number of mortgages signed in Spain went up by 27.9% in October compared with the same month last year. A total of 36,249 deals were signe - the highest figure for the month of October since 2010.
The average value of these home loans was 138,111 euros, an increase of 1.9% on last year's figures, and the total capital loaned to home buyers was 5,006.4€ million, which equates to a 30.3% year-on-year increase.
67.2% of the mortgages signed in October were fixed interest rate loans, with the remaining 32.8% being variable interest rate loans.
The highest number of new home loans per region in October was seen in the ever-popular Andalusia with 7,374 new mortgages, followed by Catalonia with 5,908 and then the Community of Madrid with 5,891.
The regions which lent the most in capital in October this year were also the same three. Madrid and the sought-after commuter towns surrounding the capital was unsurprisingly the region where most money was lent to homebuyers (1,239.5 million euros), followed by Catalonia (973.3 million) and Andalusia (859.7 million).
MORTGAGE signings have dropped by nearly a fifth as a result of the greatest leap in interest rates in over 20 years – but debt defaults have not risen, despite the Euribor being at its highest since 2011.
AFTER more than six years with the Eurozone interest rate, or Euribor, in negative figures, mortgage repayments have now risen at unprecedented speed and within one calendar year, leading to first-time buyers or those...
