Mortgages continue to climb. The number of mortgages constituted on homes in January increased by 29.4% compared to the previous year, reaching 36,185 mortgagesaccording to data published this Monday by the National Institute of Statistics (INE).
In the intermonthly statistics, the figure for the first month of the year, which recorded a 10% advancerecovered the upward trend lost in December, when the number of mortgages written down in the last month of 2021 fell by 9.2%, its largest month-on-month decline since 2018.
The average amount of mortgages in January stood at 141,427 euros, which represented a rise of 9.5% compared to the same period of the previous year. Compared to December, the average amount fell by 2.8%.
The average amount of mortgages in January stood at 141,427 euros, which represented a rise of 9.5% year-on-year
The average interest rate per mortgage in January stood at 2.5% and the average term was 24 years. 29.6% of home mortgages were constituted at a variable rate and 70.4% at a fixed rate. Regarding the loaned capital, the monthly rate in January rose 6.9% compared to the previous month.
The communities with the highest number of mortgages in January were Andalusia (7,644), Madrid (6,063) and Catalonia (5,833). The same regions took the first places in the ranking of regions in which more capital was lent for the constitution of mortgages on homes, a record led by Madrid (1,268.7 million euros), Andalusia (976.6 million euros) and Catalonia (953.5 million euros).
In addition, the communities with the highest annual variation rates in the number of home mortgages were Asturias (51.7%), La Rioja (51.3%) and the Valencian Community (42.6%). For its part, the only community with a negative annual variation rate was Navarra (-26.7%). The regions with the highest annual variation rates in the borrowed capital were La Rioja (75.3%), the Balearic Islands (71.4%) and Asturias (63.8%).