According to data published today by the National Statistics Institute (INE) in its Mortgage Statistics report, 43,372 mortgages for home purchases were signed in July, down 3.5% compared to the same month in 2025, following the sharp increase of 10.8% recorded in June, when the number of transactions reached its highest level for that month since 2010.
In its report, the INE notes that in July the average amount of new residential mortgages increased by 10.9% year-on-year to EUR 180,785, while the average interest rate stood at 3.01%, with an average repayment term of 26 years.
By type, 62.3% of mortgages in July were fixed-rate, compared to 37.7% variable-rate, consolidating the predominance of fixed-rate transactions. The average initial interest rate for variable mortgages was 2.97%, while for fixed-rate mortgages it reached 3.03%.
Compared to June, the number of residential mortgages showed a negative trend following the significant rebound observed in June, while the average amount maintains double-digit year-on-year growth. The data therefore reflects a moderation in the number of new transactions in July, albeit with a significantly higher average financing volume than a year earlier.
