September Data
September Spanish home loan levels rise nicely during the month of September.
The monthly increases were off the back of an unusually high level of new loans registered in the month of August. Year on year and annually month on month, after Julys set back the last three months have seen new credit move forward.
Average loan size helps capital lent increase
Average loan sizes rose in September to their second highest level in last 12 months and this along with higher numbers pushed total Mortgages in Spain for the purpose of buying a home to over the 3.000mk.
Interest rates drop slightly
Average interest rates dropped slightly in the month to 3.17% and the level of loans contracted on a fixed rate basis rose a little.
Other lending sees a decrease within the month
Signings for home loans also saw a similar increase in the month although lending for other purposes dropped back. This may improve now business have a clearer view on the political landscape.
Construction loans for new builds fell back in the month and remain very low in terms of numbers of.
The Spanish Banks for only the second time in over 5 years actually added to their mortgage books as new lending levels was higher than cancellations.
Read the full article:- News for home loans in Spain
