Junes loan data
June data released yesterday shows that the lending market in Spain continues to improve in 2017.
Whilst there are some blips for certain regions overall the the level of mortgage activity is up across the board.
Bucking the 5 year trend
Junes performance over the good month of May showed another month on month increase bucking the normal 5 year trend of Junes levels slowing against Mays.
Net inflows
The number of loans constituted for the purpose of buying a home in Spain was greater by 176 than the number of home loans cancelled within the month.
This is the only month bar 3 others were this has been the case since the banking crisis started some 8 years ago.
Interest rates
Fixed rates which were charging ahead as the mortgage applicants favoured choice has stalled slightly in the last couple of months with the share of new mortgages in Spain being contracted on this basis falling slightly.
With no sign of base rates rising at the 12 month Euribor at all time low borrowers may be being lulled into a false sense of security and taking variable rates because they are currently lower than the fixed.
Read the full article:- Mortgage activity in Spain
