The number of home mortgages increased by 10,3% in 2018 Over the previous year, up to add 345.186, its highest figure since 2011, according to data released this Wednesday by the Statistics National Institute (OTHER).
With this increase in 2018, Home Mortgage Firm Chains Its Fifth Consecutive Yearly Increase After Seven Years of Declines. However, The growth of 2018 it has moderated with respect to the three immediately previous years.
Since 2007, the home mortgage firm recorded declines, most of them double digit. Specific, in 2013 they lowered a 27,1%, Meanwhile in 2012, 2011 and 2008 fell back more than a 32%. In 2009 decreased by 22,2%, as long as 2010 and 2007 falls were more moderate, of the 6,6% and of 7,7%, respectively.
In exercise 2014 this trend was finally broken and home mortgages grew by 2,3%. The next year, in 2015, the home mortgage firm skyrocketed a 20,8%; in 2016 advanced a 14,6% and in 2017 increased by 10,7%.
The average amount of mortgages constituted on houses increased by 5,6% in 2018, until the 123.727 euros, while the borrowed capital increased a 16,5% in the whole of last year, until the 42.709 millions of euros.
By autonomous communities, those that registered the highest number of mortgages constituted on homes in 2018 were Madrid (65.503), Andalusia (65.431) and Catalonia (57.477).
All the autonomous communities increased the signing of mortgages on homes last year. The greatest increases corresponded to Valencian Community (+15,7%), Madrid (+14,9%) and Castilla-La Mancha (+14,8%) and minors Baleares (+0,9%), Galicia (+2,8%) and Canary Islands (+3,8%).
The communities in which the most capital was loaned for the constitution of mortgages on homes in 2018 were Madrid (11.444,7 millions of euros), Catalonia (8.287,3 millions) and Andalusia (6.830 millions of euros).
A rise in 10,3% in the year
According to the data of the statistical agency, during 2018 the number of mortgages on rustic and urban farms (The latter include housing) increased by 10,3% about 2017, up to a total of 477.485, its fourth annual rebound after that of 2015 (+17,9%), 2016 (+7,8%) and 2017 (+8%) and its highest figure since 2011, informs Europa Press.
He principal of the mortgage loans granted increased by 11,2% in the whole of last year, to overcome 68.117 millions of euros, while the average amount of the mortgages constituted on the total properties rebounded a 0,8% and added 142.660 euros.
In 2018, a total of 72.739 mortgages their conditions changed, which means a decrease in 18,7% about 2017. Attending to the kind of change in the conditions, last year there were 56.981 novaciones (or modifications produced with the same financial entity), with an annual decrease of 19,1%.
The number of operations that changed entities (subrogations to the creditor) it was of 12.035, a 16,8% less than in 2017. For his part, in 3.723 mortgages changed the owner of the mortgaged property (subrogations to the debtor), a 18,6% less.
The Supreme Court's ruling begins to show
For his part, the number of mortgages constituted on dwellings registered in the property registers stood at 20.933 last December, figure one 0,9% higher than the same month of 2017.
With this year-on-year rebound, which is more than 13 points lower than that registered in November, Home Mortgage Firm Chains Nine Months of Positive Rates.
The INE recalls that these are mortgages from public deeds previously made, por lo que puede apreciarse parte del impact of the sentence of the Supreme court, published on 18 October, which established that the banks and not the client had to pay the Documented Legal Acts tax (AJD).
This ruling was rectified by the High Court on 6 of November, but in the period elapsed between both sentences, a certain paralysis of the mortgages granted by the banks was registered, as warned then sources in the sector. The data of the OTHER December show remarkable year-on-year slowdown in the growth of home mortgages and strong monthly setbacks.
So, in monthly rate (December of 2018 about November of the same year), home mortgages fell a 27,4%, while the borrowed capital decreased by 29,8%. In both cases it is their biggest decrease in a month of December in at least five years.
Low interest rates on mortgages
At the close of 2018, the average interest rate for total mortgage loans stood at 2,44%, with an average term of 22 years. In the case of housing, the average interest was 2,62%, in front of 2,73% from a year before, with an average term of 24 years.
He 58,6% de las hipotecas sobre viviendas se constituyeron en diciembre a tipo variable y el 41,4%, fixed rate. El tipo de interés medio al inicio es del 2,42% for variable rate home mortgages and 2,98% in the case of fixed rate. In both cases, rates have been reduced compared to the same month of 2017.
On the total farms, he 60,4% of the mortgages constituted last December used a variable interest rate, in front of 39,6% fixed rate.
[Source: The world]