August data
Mortgages in Spain remained stable in August. This was both in terms of interest rates and numbers.
Because the information relates to registered loans in Spain, this will reflect completions for June and July.
Future months
Over the next few months we will see rates rise on completed Home loans and possibly numbers fall.
Spanish Banks remain cautious in current environment. Loans for construction are already under pressure.
Lenders have also started to adjust their mortgage product type offerings. Fixed rates have increased with all lenders.
Spanish Mortgage product offerings
Fixed rate mortgages in Spain for non residents going through the application process may no longer provide the best alternative.
Mixed fixed rate loans whereby they are fixed for a period and then revert to a favourable Variable rate margin may provide the most flexibility moving forward.
Fixing in periods of rate increases and taking advantage as of rate decreases a few years down the line.
Read the full article:-Spanish mortgage market for August 2022
