The number of mortgages on homes registered in the property records it was of 29.778, a 9,2% more compared to the same month of the previous year, according to the data published by the Statistics National Institute (OTHER). The figure is a 44% highest if compared to the previous month, with december 2017, and it's the largest since 2014, the period analyzed by the Institute.

Except in Aragon (-1,2%) and Estremadura (-0,8%), in all the autonomous communities grew up the number of mortgages signed in rate inter-annual. In some more than others: the communities that presented the higher annual variation rates son Castilla la Mancha (25,2%), The Rioja (22,7%) and Galicia (16,6%). As usual, the regions with the highest number of mortgages constituted on houses in January were Andalusia (5.775), Madrid's community (5.115) and Catalonia (4.865). The same ones in which it was provided plus capital: Madrid (917,4 millions of euros), Catalonia (698,0 millions) and Andalusia (597,5 millions).

 

The renewed interest in purchasing housing, attached to a new cheaper financing and the entities battle for attract customers are behind the increase in the signature of mortgages registered last January. The number of mortgages on homes registered in the property records was 29.778, a 9,2% more compared to the same month of the previous year, according to data published today Thursday by Statistics National Institute (OTHER). The figure is a 44% highest if compared to the previous month, with december 2017, and it's the largest since 2014, the period analyzed by the Institute.

He constant lowering of mortgages and the rise in the price of housing explain that the mortgaged have to ask for more and more capital. So, he average amount of these mortgages increased by 7,9% and stood at 121.954 euros. An increase that was transferred to the total capital loaned, which rose a 17,8% annual until it reaches 3.631,5 millions of euros.

The average interest rate for that contracted type mortgage was 2,68%, a 14% less than January 2017, and the average term of 24 years. Although it is the variable rate mortgages that experienced the further downgrade: the average interest rate at the beginning was 2,52%, with a decrease in 18%. And went 3,03% for fixed rate, a 5,5% less. “The rates at which these loans are granted continue to fall, fruit of competition between banks. However, it is foreseeable that in the medium term we will see how the fixed rates become more expensive due to the announced end of the purchase of debt by the ECB ”, indicates Fernando Encinar, head of studies Idealista.

Although the entities have been three years trying to get mortgages to fixed rate became fashionable and, in fact, they have succeeded (he 62,8% of mortgages on homes is constituted to variable rate and the 37,2% a fixed rate), now they come back, once again, to compete for loans with variable interest rates. In fact, fixed-rate mortgages experienced a increased 5,9% in annual rate.

Except in Aragon (-1,2%) and Estremadura (-0,8%), in all the autonomous communities the number of mortgages signed at an inter-annual rate grew. In some more than others: the communities that presented the highest annual variation rates are Castilla la Mancha (25,2%), The Rioja (22,7%) and Galicia (16,6%). As usual, the regions with the highest number of home mortgages in January were Andalusia (5.775), Madrid's community (5.115) and Catalonia (4.865). The same ones in which more capital was loaned: Madrid (917,4 millions of euros), Catalonia (698,0 millions) and Andalusia (597,5 millions). In january, the Catalan community far exceeded Madrid in granting mortgages: in the first they grew a 13,6%, which at the moment scares away the fear of a recession due to the political crisis in the region, while in the second the annual increase was barely 0,3%.

He 2018 starts with a new rise in the mortgage firm and the trend of the last four years. In 2017, financial institutions granted 310.096 new mortgages, your figure highest since 2011 when they subscribed 408.461 mortgage loans. "In 2018 We will witness a more moderate growth in financing as a result of the normalization to which the market is tending, but its trend will continue to be positive, which is key to the recovery of the housing market, since seven out of ten buyers need bank financing to be able to access a home purchase ”, according Beatriz Toribio, Director of Studies of the portal Fotocasa. “The numbers paint an optimistic scenario for the housing market, as loans keep reaching buyers”, think Ferran Font, Head of Studies Pisos.com.

[Source:The country]