Despite the negative year-on-year variation, 511 mortgages were signed in Navarra, 19.7% more than in February, and 1,908 in the BAC, 5.3% more. The average interest rate for homes is around 3%.
The number of mortgages issued on homes decreased in the BAG and Navarra by more than 14% in March compared to the same month of 2022Specifically, it is down 14.1% in Navarre and 14.1% in the CAV, according to data released this Friday by the National Institute of Statistics (INE).
Despite the negative year-on-year exchange rate, in Alava, Bizkaia and Gipuzkoa In March, no fewer than 1,908 mortgages were taken out (96 more than in February). increase of 5.3% compared to February from this year. Debt amounts to 303,785,000 euros, 8.8% more than in February and 13.9% less than in March 2022. average mortgage exceeded in the CAV the €159,000some 5,000 more than the previous month.
In Navarre 511 mortgage contracts have been concluded on housing, one 19.7% more than the previous month (February 2023). The capital lent by financial institutions amounts to 71,901,000 euros, 39.3% more than in February, albeit 4.9% less than the same month in 2022.
In the set of StandsThe number of mortgages issued on homes fell 15.7% last March from the same month in 2022, to a total of 36,182 loans, the INE said.
With the year-over-year drop in March, the residential mortgage firm is chaining two months of negative rates after February’s 2% drop.
The average amount of mortgages on homes fell by 1.5% year-on-year to EUR 142,663 in the third month of the year, while the amount of capital lent fell by 17% to EUR 5,161.8 million.
Following the increase in interest rates agreed by central banks to try and contain inflation, the average interest for total mortgage loans, it stood at 3.29% in March, the highest since January 2017, with an average term of 24 years.
In case of households, the average interest rate 2.99%the highest value since April 2017, with an average maturity of 25 years.
Last March, 36.1% of mortgages on homes were concluded at a variable interest rate, while 63.9% were concluded at a fixed interest rate. The average interest rate at the start was 2.72% for variable rate mortgages and 3.15% for fixed rate mortgages.
Source: EITB
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