The variety of mortgages constituted on properties fell by 24% final May in comparison with the identical month in 2022, to a complete of 33,398 loans, in accordance with knowledge launched this Friday by the National Institute of Statistics (INE).
With the year-on-year decline in May, the house mortgage agency chains 4 months of destructive charges after the two% drop recorded in February, the 15.7% drop in March and the 18.3% drop in April.
The common quantity of the mortgages constituted on properties fell by 4.6% year-on-year within the fifth month of the 12 months, to 141,798 euros, whereas the capital lent decreased by 27.5%, to 4,735.8 million euros.
After the rise in rates of interest agreed by the central banks to attempt to comprise inflation, the typical rate of interest for all mortgage loans stood at 3.5% in May, with a mean time period of 23 years. In the case of properties, the typical curiosity was 3.15%, with an increase of 1.34 factors in comparison with the identical month of 2022 and with a mean time period of 25 years.
38% of dwelling mortgages had been established final May at a variable price, whereas 62% had been signed at a hard and fast price. The common rate of interest originally was 2.79% for variable-rate dwelling mortgages and three.40% within the case of fixed-rate mortgages.
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