The home mortgage firm fell 29.6% in September
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The number of mortgages constituted on homes fell by 29.6% last September compared to the same month in 2022, totaling 31,054 loans, with an average interest rate that continued to rise, reaching 3.26%, its figure highest since February 2016, according to data released this Tuesday by the National Institute of Statistics (INE).
With the year-on-year decrease in September, the home mortgage firm has had eight months of negative rates, although that in September has been more pronounced than that registered in August (-22.7%).
The average amount of mortgages constituted on homes fell by 0.1% year-on-year in the ninth month of the year, to 143,186 euros, while the capital lent decreased by 29.7%, to 4,446.5 million euros.
Following the policy of raising interest rates carried out by the European Central Bank (ECB) to try to contain inflation and the evolution of the Euribor, the average interest rate for all mortgage loans stood at 3.42%. in September, with an average term of 23 years.
In the case of homes, the average interest was 3.26%, its highest value since February 2016, with an average term of 24 years. Compared to a year earlier, the average interest rate for home loans has increased by 1.26 points. It is the sixth consecutive month in which the interest rate exceeds 3%.
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