December 2021 Mortgages in Spain
Decembers end of year figures showed their was significant growth year on year from 2020.
Whilst this is not of a surprise given the COVID situation the year before the numbers also show healthy growth in last 5 years. In comparison to 2017 the average loan size has grown from 117.7k to 137.9k and the number of yearly Mortgages in Spain from 312k to 417k.
Fixed rates dominant the home loan market in Spain
Fixed rates now dominant the market with some Spanish Banks only offering variable rates by exception.
This is a big turnaround for the market 5 years ago when fixed rates made up a very small percentage of all home loans in Spain.
Interest rates stable for the month
Interest rate averages for fixed rates are 2.80% over a 24 year term so look to be good long term value for borrowers.
The Euribor whilst still in negative territory rose the most in February for many months.
Read the full article:- Spanish lending grew in 2021
