The number of mortgages closed continues the downward trend across the country, with an average decline of 19.1%.
The signing of mortgages on houses in the Basque Autonomous Community (CAV) dropped one 17.6% in November compared to the same month of the previous year, according to preliminary data published by the National Institute of Statistics (INE). In Navarre The decrease was slightly smaller, 12.7%.
In concrete terms, 1,555 home loans were granted in the BAC, and 345 in Navarra.
In the Spanish state as a whole, residential mortgages fell by 19.1%, with only two communities (Castilla La Mancha and Cantabria, with increases of 40.9% and 8% respectively) having positive figures. With the year-over-year decline in November, residential mortgage companies have become chains 10 months of negative interestalthough November’s was less pronounced than October’s (-22.3%).
Following the interest rate policy of the European Central Bank (ECB) to keep inflation and the evolution of the Euribor under control, the average interest rate was from 3.27%, with an average term of 24 years. Compared to a year earlier, the average interest rate on home loans has increased by seven-tenths.
In terms of the interest rate applied, the fixed rate remained the majority (53.2%), compared to 46.8% of the variable rate.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
