New lending figures
The number of new loans in Spain for the month of November 2017 fell against the same month of the year before.
This was probably due to a particularly good month in 2016 when against normal trends completions rose above those of October.
Capital lent increases
Overall the level of capital lent increased as despite the fall in numbers the average loan is up considerably from 2016 and during the year of 2017.
Most regions have seen good increases across the year but Murcia and the Canary Islands have both struggled and without a really good performance in December will finish 2017 down across all measures.
Rates rise slightly
Interes rates whilst climbing a little in the month remain below 2016 levels and fixe rate contracts seem to have levelled out at around the 35% of all new loans taken.
The average rate across all product types was 2.71% for the month down from above 3% this time last year. The 12 month Euribor remains in negative territory as it has done for at least 12 months now.
Spanish Banks pressures remain
Spanish Banks continue to lose clients as mortgages in Spain redeem at a faster rate than than new loans are put on the books but there have been some positive signs that this gap is slowing although in November this was not the case.
Read the full article:- Home loans in Spain are a mixed bag in November
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