July Spanish lending data
In July the average size of a Mortgage in Spain dropped.
Against June this was also true of number of new loans and capital lent.
Over July of last year all data remained as an increase as does year to date.
House sales in Spain slow
However house sales have slowed a little and there are some signs the lending marketing is slowing down. Madrid was most heavily hit by this downturn.
Interest rates
Interest rate increases have still not flowed through to the average rate achieved for recent completions. Next month we will probably start to see the impact.
Spanish Banks change affordability criteria
Spanish lenders have started to tighten criteria. Using new affordability ratios with built in rate increases.
We remain in an environment flux.
The 12 month Euribor will increase in October from the 1.249% of September as the base rate is now 1.25%.
Read the full article:-Spanish Mortgage sizes drop
