In the Spanish state as a whole, the number of mortgages concluded in July amounted to 36,260, up 23.5% on an annual basis.
The residential mortgage firm in the Basque Autonomous Community (CAV) increased by 26.3% in July compared to the same month in 2023, and in Navarre the increase was much higher, 63.3% – the highest rate among the communities of the Spanish stands. according to preliminary data published by the National Statistical Institute (INE).
In July, 1,800 mortgage contracts were signed in the BAC and 467 in Navarra. Moreover, the average amount of mortgages on residential properties was 159,287 euros in the BAC, while in Navarra it was 128,492 euros.
In the Spanish state as a whole, the number of residential mortgages registered in the property registers in July amounted to 36,260, up 23.5% year on year. The average amount of mortgages on homes increased by 6.2% and amounted to 151,944 euros.
The average interest rate on new residential mortgages was 3.17%, the lowest since June 2023, and the average term was 25 years. In terms of the interest rate used, 41.0% of residential mortgages were taken out with a variable interest rate and 59.0% with a fixed interest 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.
