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INE reveals Spanish Mortgage data

Tue 24th May 2011

Spain's National Institute of Statistics (INE) released data earlier today showing how the number of mortgages issued by Spanish lenders has continued with it's decline.

The average value of a mortgage loan fell by 17.2% in March based on the same period last year, and now stands at 116'523 Euros. The figure fell 9.1% on February.

The average value of a mortgage - solely for residential properties - fell 3.8% on last year, to reach 112'464 Euros, down 8.4% on February.

The overall number of mortgages issued fell by 20.6% in March compared to the previous March, a decrease of 10.1% on February.

The report also showed how the average interest rate on mortgages had increased by 0.8% over the course of the year to reach a rate of 3.94% in March.

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