Link Securities | According to data released yesterday by the National Statistics Institute (INE), the number of mortgages taken out on homes in March rose to 42,831, representing an increase of 44.5% year-on-year. The average amount of these operations was 156,698 euros, an increase of 14.3% in the interannual rate. In addition, the average amount of mortgages on the total number of properties registered in the land registries (from previously executed public deeds) increased by 7.3%.
For mortgages on dwellings, the average interest rate was 2.97% and the average term was 25 years. Of mortgages on dwellings, 33.2% were taken out at a variable rate and 66.8% at a fixed rate. It is worth noting that the average interest rate at the start was 2.82% for variable rate mortgages on dwellings and 3.05% for fixed rate mortgages.
