Mortgages accelerated to 43,378 signings in March, the highest number since February 2011.

boom for home buying


Along with the numbers, the average amount paid also increased to 145,715 euros, an increase of 6.5% according to INE.

A woman walks in front of a real estate office in Valencia.
A woman walks in front of a real estate office in Valencia.EFE

Mortgage firms continue to be unstoppable in the first months of the year in the heat of the boom to buy housing. only in march 43,378 contracts signedThis represents an increase of 18% over the corresponding month of the previous year and the highest figure since February 2011, when 49,892 loans were formally disbursed.

Data published this Friday by the National Institute of Statistics (INE) confirm the strength of demand in the Spanish real estate market after the pandemic and also in the mortgage market. In fact, the housing loan firm has posted 13 consecutive months of growth year-on-year.

number as well as i. also increasedAverage amount paid up to 145,715 Euro, with an increase of 6.5%. By autonomous communities, Andalusia (8,966), Catalonia (7,545) and Madrid (7,308) recorded the highest number of hostages held on homes in March 2022.

The average interest rate was 2.53%, up from 2.47% a year earlier, with an average tenure of 25 years. 27.3% of mortgages on homes were constituted at a variable rate last March, while 72.7% were signed at a fixed rate, maintaining the high trend of recent months, with that percentage rising to an all-time high of 73.8% in February. Reached.

Initially the average interest rate was 2.15% for a variable rate home mortgage and 2.68% for a fixed rate mortgage.

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