Overview
- Spain registered 45,563 home mortgages in February, up 16.3% from a year earlier in the strongest February since 2011 after 20 straight monthly gains.
- The average interest rate on new mortgages was 2.88%, with fixed terms chosen in 64.8% of cases and an average term of 25 years.
- The typical loan size rose 11% to €173,280, while total capital lent climbed 29% to more than €7.895 billion.
- Growth varied by region, with Madrid up 36.9%, Castilla-La Mancha up 29.5%, and Andalusia up 24.7%, while Extremadura, the Basque Country, and La Rioja declined.
- Fewer borrowers changed loan conditions, as registry modifications fell 9.3%, suggesting less incentive to switch or renegotiate existing mortgages.