Economy not impacting on Mortgages in Spain
Despite some of the economic pressures Mortgages in Spain remain stable.
Interest rates remain low
Interest rates have barely climbed even though the euribor has risen. This may be because Spanish Banks are taking lower margins.
Fixed rate products remain the chosen mortgage product type. Variable rates however came in at 2.10% suggesting margins above euribor as an average are between 0.50% to 0.75%.
Spanish Banks
Spanish Banks also saw a healthy inflow of loans. New mortgages constituted were well above those cancelled.
Madrid, Canary Islands and Balearics saw big increases in the month.
Mortgages in Spain for non residents remain under pressure. Mainly due to Brexit and regulations surrounding currency fluctuation.
Read the full article:-Spanish lending beginning of last quarter
