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Find the best Spanish mortgage rates – November 2020 update

28 Oct
2020
5 (100%) 10 vote

 

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What are the best Spanish mortgage rates?

Here is our November 2020 update with the latest data available

Thanks to our network of local partners, we get the best mortgage rates in Spain if you want to finance your home in Spain.

In order to know the last levels of the Spanish mortgage rates, you need to start with the real data: the data of the latest mortgages issued in Spain. This will help you to know what are the best Spanish mortgage rates available right now. Of course, don’t forget, if you are a foreigner you have to remember that as your assets are mainly abroad, your rate will be higher than the one reported here.

The “Instituto Nacional de Estadisticas”, INE, just released the Mortgage statistics of Spain for the month of August 2020. It is very informative and will give you the current market rates.

        1. What are the best mortgage conditions in Spain?

          • Average mortgage has an interest rate of 2.49% (vs 2.54% last month)
          • The lowest rate ever was 2.47% reached in Nov 2019! 
          • The average mortgage duration is 24 years
          • 50.6% have variable interest rates
          • 49.4% have fixed interest rates
          • The average rate for variable rate mortgages is 2.18%,
          • The average rate for fixed-rate mortgages is 2.87%,

           

          Check the evolution of the mortgage rates (average, fixed and variable )over the last year

          • The average amount issued per mortgage is €134,700: an increase of 4% vs last year.

           

          Check the evolution of the average amount issued per mortgage over the last year

          • 19,825 mortgages were issued -3% vs last year.
          • 3,7 € Bn of mortgages issued for housing in August 2020, +0.5% vs last year.

           

           

          The top 3 regions with the biggest increases for the number of mortgages issued

          Here are the most noticeable regions for monthly changes:

          • Navarra, +32% to 286 mortgages
          • Castilla – La Mancha, +15% to 981 mortgages
          • Cantabria, +12% to 279 mortgages

           

          The top region in terms of amounts of mortgages issued

          Here are the most noticeable regions for yearly changes:

          • La Rioja, 15m€, +145%
          • Canarias, 126m€, +91%
          • Castilla – La Mancha, 94m€, +49%
          • Extremadura, 33m€, +34%

           

        2. Calculate the cost of your own mortgage

          Check our ultimate Spanish mortgage calculator.

          To help you out, we have created an easy to use table of the monthly repayments depending on the amount you want to take for a mortgage. If you want to go deeper into details, use our calculator to fine tune your mortgage to your situation and you will find out what would be your monthly payments, mortgage schedule,…

           

          What is the cost of a €100,000 mortgage over 10 years?

          If you want to go into the details, here is a calculation example we did:

          As you will see, if you take a mortgage of €100.000 on 10-year with a rate of 3.5%, your monthly payment to reimburse your mortgage will be €989.

          Thanks to our Spanish mortgage rate calculator, you can change any number and calculate what would be your own situation.

           

          Summary table of your monthly reimbursements for a €100.000 Mortgage

           

        3. Buy to let in Spain?

        4. Get our advice to get the best rates

          • You are about to buy a nice second home in Spain. Do you want to know how to get the best mortgage rates on your Spanish property?  Even as a foreigner? Check our detailed paper on this subject and follow the link or listen to our 2 minutes video on how to apply for your mortgage up to the end and get all our tips to get the best rates:

           

          357.720 mortgages issued in 2019

          This is a 3% growth vs 2018 which saw 345.186 mortgages issued in Spain. You should compare that to the number of properties sold  in 2018 of 570.000, which means, in our opinion, that the market is not over leveraged. In 2017, 310.096 mortgages were issued and in 2016, the number of mortgages issued was 283.000, that is a 14.6% growth year over year vs 2015.

           

           

        5. Discover the best new build projects in Spain

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        6. Do you want to have access to our local partners to get a free mortgage quote?

          Get a free mortgage quote from our partner.

           

        7. Our other resources on “Spanish mortgage rates”

       

       

      FAQ Spanish mortgage rates

      How much deposit do I need for a Spanish mortgage?

      For your second residence and as a non-fiscal resident, a bank will finance no more than 70 % of the value of your property. This means that you would need to invest at least 45% of the property value with your own pocket.

      What is the interest rate in Spain?

      As of August 2020, the average mortgage has an interest rate of 2.49%. The lowest rate ever was 2.47%, very close to the current level! The average mortgage duration is 24 years 50.6% have variable interest rates 49.4% have fixed interest rates The average rate for variable rate mortgages is 2.18%, The average rate for fixed-rate mortgages is 2.87%. Read our dedicated article on that subject for more recent data.

      Can foreigners get a mortgage in Spain?

      Yes, foreigners can get a mortgage up to 70% of the Value of a property.

      Can I get a Spanish mortgage?

      It is very easy to get a mortgage in Spain. What are the documents requested? Your Passport / ID for all the applicants Your NIE: “Número de identificación fiscal para extranjeros” or Foreign Resident’s Tax Number. How to get your NIE in Spain? What do you need to get it? Why do you need it? Last 3 paychecks with the contract of employment Proof of incomes/Contract A view on your assets and debts If it’s a new building: the “Deed for new building” The private sale-purchase contract If you have a mortgage at home, land registry information on the property and the mortgage If pensioners: Official proof of annual income.

      Here are the statistics for earlier months:

      The Spanish mortgage rates situation for July 2020

                      • Average mortgage has an interest rate of 2.54% (vs 2.49% last month)
                      • The lowest rate ever was 2.47% reached in Nov 2019! 
                      • The average mortgage duration is 23 years
                      • 47.5% have variable interest rates
                      • 52.5% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.27%,
                      • The average rate for fixed-rate mortgages is 2.86%,
                      • The average amount issued per mortgage is €132,346: an increase of 8.9% vs last year.
                      • 26,014 mortgages were issued -23% vs last year.
                      • 3,4 € Bn of mortgages issued for housing in July 2020, -16% vs last year.

       

      The top 3 regions with the biggest increases for the number of mortgages issued:
                      • La Rioja, +51% to 202 mortgages
                      • Canarias, +45% to 1,221 mortgages
                      • Valencian community, +31% to 3,341 mortgages
      The top region in terms of amounts of mortgages issued
                      • Basque Country, 282m€, +33%

       

      The Spanish mortgage rates situation for June 2020

                      • Average mortgage has an interest rate of 2.5% (vs 2.49% last month)
                      • The lowest rate ever was 2.47% reached in Nov 2019! 
                      • The average mortgage duration is 23 years
                      • 54% have variable interest rates
                      • 46% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.11%,
                      • The average rate for fixed-rate mortgages is 2.96%,
                      • The average amount issued per mortgage is €131,670: an increase of 7.5% vs last year.
                      • 26,748 mortgages were issued -13% vs last year.
                      • 3,5 € Bn of mortgages issued for housing in June 2020, -6% vs last year.

       

      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
                      • Basque Country, +129% to 2,811 mortgages
                      • Extremadura, +79% to 562 mortgages
                      • Murcia, +59% to 798 mortgages

       

      The top regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • Basque Country, 366m€, +95%
                      • Extremadura, 45m€, +85%
                      • Murcia, 68m€, +57%

       

      The Spanish mortgage rates situation in May 2020

      Best mortgage conditions in Spain?

                      • Average mortgage has an interest rate of 2.49% (vs 2.48% last month)
                      • The lowest rate ever was 2.47% reached in Nov 2019! 
                      • The average mortgage duration is 23 years
                      • 50.5% have variable interest rates
                      • 49.5% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.11%,
                      • The average rate for fixed-rate mortgages is 3%,
                      • The average amount issued per mortgage is €127,145: an increase of 3.2% vs last year.
                      • 25,538 mortgages were issued -27% vs last year.
                      • 3.2 € Bn of mortgages issued for housing in May 2020, -29% vs last year.

       

      The top  regions with the biggest increases for the number of mortgages issued are (monthly changes):
                      • Andalusia, +6.8% to 5,580 mortgages
                      • Basque Country, +6.5% to 1,221 mortgages
                      • Galicia, +6.4% to 820 mortgages

       

      The top region in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • Murcia, 56.8 M€, +22%

       

      The Spanish mortgage rates situation in April 2020

      Best mortgage conditions in Spain?
                      • Average mortgage has an interest rate of 2.48% (vs 2.56% last month)
                      • The lowest rate ever was 2.47% reached in Nov 2019! 
                      • The average mortgage duration is 24 years
                      • 48.4% have variable interest rates
                      • 51.6% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.13%,
                      • The average rate for fixed-rate mortgages is 2.86%,
                      • The average amount issued per mortgage is €125,300: an decrease of 1.2% vs last year.
                      • 23,840 mortgages were issued -18% vs last year.
                      • 3 € Bn of mortgages issued for housing in April 2020, -19% vs last year.

       

      The 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):
                      • Andalusia, +6.8% to 5,580 mortgages
                      • Basque Country, +6.5% to 1,221 mortgages
                      • Galicia, +6.4% to 820 mortgages

       

      The top  region in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • Murcia, 56.8 M€, +22%

       

      The Spanish mortgage rates situation in March 2020

      Best mortgage conditions in Spain?
                      • Average mortgage has an interest rate of 2.56% 
                      • The lowest rate ever is 2.47% reached in November 2019! 
                      • The average mortgage duration is 23 years
                      • 47% have variable interest rates
                      • 53% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.21%,
                      • The average rate for fixed-rate mortgages is 2.92%,
                      • The average amount issued per mortgage is €127,888: an increase of 1.6% vs last year.
                      • 26,382 mortgages were issued -15% vs last year.
                      • 3.4 € Bn of mortgages issued for housing in March 2020, -13% vs last year.

       

      The top  region with the biggest increases for the number of mortgages issued are (monthly changes):
                      • La Rioja, +44% to 254 mortgages

       

      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • Aragon, 93 M€, +48%
                      • Asturias, 57 M€, +24%
                      • Cantabria, 34M€, +8%

       

       

      The Spanish mortgage rates situation in February 2020

      Best mortgage conditions in Spain?
                      • Average mortgage has an interest rate of 2.64% (vs 2.55% last month)
                      • The lowest rate ever is 2.47% reached in November 2019! 
                      • The average mortgage duration is 23 years
                      • 62% have variable interest rates
                      • 37% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.47%
                      • The average rate for fixed-rate mortgages is 3.02%

       

      The 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):
                      • Navarre, -45% to 373 mortgages
                      • Asturias, -38% to 694 mortgages
                      • Canary Islands, -31% to 1.035 mortgages

       

      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • Catalonia, 2.378 M€, +200%
                      • Andalusia, 1.109 M€, +57%
                      • Aragon, +30%

       

      The Spanish mortgage rates situation in January 2020

      Best mortgage conditions in Spain?
                      • Average mortgage has an interest rate of 2.55% (vs 2.53% last month)
                      • The lowest rate ever is 2.47% reached in November 2019! 
                      • The average mortgage duration is 22 years
                      • 58% have variable interest rates
                      • 42% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.22%
                      • The average rate for fixed-rate mortgages is 3.05%
      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
                      • Balearic Islands, +144% to 1.494 mortgages
                      • Asturias, +134% to 1.120 mortgages
                      • Castilla y Leon, +111% to 1.884 mortgages

       

      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • La Roja, 20 M€, +84%
                      • Navarre, 71 M€, +75%
                      • Balearic Islands, +74%

       

      The Spanish mortgage rates situation in December 2019

      Best mortgage conditions in Spain?
                      • Average mortgage has an interest rate of 2.53% (vs 2.47% last month)
                      • The average mortgage rate decreased by 5% vs 1 year ago
                      • The lowest rate ever is 2.47% reached in November 2019! 
                      • The average mortgage duration is 23 years
                      • 56% have variable interest rates
                      • 44% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.2%, 9.1% less than 1 year ago
                      • The average rate for fixed-rate mortgages is 3.06%, 2.6% more than 1 year ago
      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
                      • Castilla – La Mancha, +97% to 1.952 mortgages
                      • Canary Islands, +55% to 1.824 mortgages
                      • Madrid, +23% to 6.787 mortgages

       

      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • Castilla – La Mancha, 143 M€, +137%
                      • Madrid, 1.114 M€, +57%
                      • Canary Islands, +54%

       

      The Spanish mortgage rates situation in November 2019

      Best mortgage conditions in Spain?
                      • Average mortgage has an interest rate of 2.47% (vs 2.5% last month)
                      • The average mortgage rate decreased by 6.1% vs 1 year ago
                      • The lowest rate ever is the current rate 2.47%! 
                      • The average mortgage duration is 24 years
                      • 57.3% have variable interest rates
                      • 42.7% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.15%, 12.1% less than 1 year ago
                      • The average rate for fixed-rate mortgages is 3.01%, 0.3% more than 1 year ago
                      • The average amount issued per mortgage is €129,800: a decrease of 2.1% vs last year.
                      • 29,416 mortgages were issued -0.5% vs last year.
                      • 3.8 € Bn of mortgages issued for housing in October 2019, -0.9% vs last year.

       

      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):

      All the regions noticed a month on month decrease

      Here are the most noticeable regions:

                      • Extremadura, +26.4% to 526 mortgages
                      • Cantabria, +13.6% to 376 mortgages
                      • Valencia Community, +12.8% to 3614 mortgages

       

      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • Extremadura, 48 M€, +72% 
                      • Balearic Islands, 200 M€, +37% 
                      • Cantabria, 43 M€, +36%

       

      The Spanish mortgage rates situation in October 2019

      Best mortgage conditions in Spain?
                      • Average mortgage has an interest rate of 2.50% (vs 2.51% last month)
                      • The average mortgage rate decreased by 5% vs 1 year ago
                      • The lowest rate ever is the current rate 2.50%! 
                      • The average mortgage duration is 24 years
                      • 54.7% have variable interest rates
                      • 45.3% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.09%, 11.2% less than 1 year ago
                      • The average rate for fixed-rate mortgages is 3.02%, 1.4% less than 1 year ago
                      • The average amount issued per mortgage is €129,000: a decrease of 2.1% vs last year.
                      • 29,691 mortgages were issued -1.1% vs last year.
                      • 3.8 € Bn of mortgages issued for housing in September 2019, -1.1% vs last year.

       

      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):

      All the regions noticed a month on month decrease

      Here are the most noticeable regions:

                      • La Rioja, +127% to 186 mortgages
                      • Extremadura, +92% to 416 mortgages
                      • Cantabria, +80% to 331 mortgages

       

      The top 5 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • Madrid, 936 M€, -12%
                      • Catalonia, 788 M€, -12%
                      • Andalusia, 660 M€, +8%
                      • Valencia Community, 327 M€, +20%
                      • Basque Country, 235 M€, +20%

       

      The Spanish mortgage rates situation in September 2019

                      • Average mortgage has an interest rate of 2.51% (vs 2.55% last month)
                      • The average mortgage rate decreased by 3% vs 1 year ago
                      • The lowest rate ever is the current rate 2.51%! 
                      • The average mortgage duration is 24 years
                      • 63.4% have variable interest rates
                      • 36.6% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.13%, 9.3% less than 1 year ago
                      • The average rate for fixed-rate mortgages is 3.16%, 2.5% less than 1 year ago
                      • The average amount issued per mortgage is €135,452: a increase of 5.3% vs last year.
                      • 22,488 mortgages were issued -29.9% vs last year.
                      • 3 € Bn of mortgages issued for housing in August 2019, -29.9% vs last year.

       

      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
                      • Navarre, +50% to 328 mortgages
                      • Madrid, +47% to 4,708 mortgages
                      • Castilla La Mancha, +26% to 897 mortgages

       

      The top 5 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                      • Madrid, 936 M€, -27%
                      • Catalonia, 545 M€, -28%
                      • Andalusia, 463 M€, -29%
                      • Valencian Community, 255 M€, -29%
                      • Basque Country, 203 M€, -21%

       

      The Spanish mortgage rates situation in August 2019

                        • Average mortgage has an interest rate of 2.55% (vs 2.56% last month)
                        • The average mortgage rate decreased by 3% vs 1 year ago
                        • The lowest rate ever is the current rate 2.55! 
                        • The average mortgage duration is 23 years
                        • 60.7% have variable interest rates
                        • 39.3% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.21%, 3.2% less than 1 year ago
                        • The average rate for fixed-rate mortgages is 3.18%, 1.5% more than 1 year ago
                        • 20,385 mortgages were issued -29.9% vs last year.
                        • The average amount issued per mortgage is €128,501: a increase of 5% vs last year.
                        • 2,6 € Bn of mortgages issued for housing in August 2019, -29.9% vs last year.

       

      The top 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):

       

                      • La Rioja, -72% to 74 mortgages
                      • Extremadura, -57% to 279 mortgages
                      • Castilla La Mancha, -53% to 714 mortgages

       

      The top 3 regions with the biggest decreases in terms of amounts of mortgages issued are (yearly change):
                      • La Rioja, -65% to 6m issued
                      • Extremadura, -56% to 23m issued
                      • Canariasa, -45% to 66m issued

       

      The Spanish mortgage rates situation in July 2019

                      • Average mortgage has an interest rate of 2.56% (vs 2.57% last month)
                      • The average mortgage rate decreased by 1.2% vs 1 year ago
                      • The lowest rate ever is the current rate 2.56! 
                      • The average mortgage duration is 23 years
                      • 58.1% have variable interest rates
                      • 41.9% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.14%, 7.3% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.16%, 2.8% less than 1 year ago,
                      • The average amount issued per mortgage is €121,414: a decrease of 2,5% vs last year.
                      • 33,344 mortgages were issued +13.1% vs last year.
                      • 6,3 € Bn of mortgages issued for housing in July 2019, +15.2% vs last year.

       

      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

      For a first time since long, all the regions suffer a month on month negative growth. The one with the smallest decreases are

                      • La Rioja, +79.3% to 269 mortgages
                      • Castilla La Mancha, +44% to 1,508 mortgages
                      • Asturias, +37% to 671 mortgages

       

      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                      • Extremadura, +45.9% to 652 mortgages
                      • Castilla La Mancha, +38% to 1,508 mortgages
                      • Castilla y Leon, +33.9% to 1,430 mortgages

       

      The Spanish mortgage rates situation in June 2019

                      • Average mortgage has an interest rate of 2.57% (vs 2.62% last month)
                      • The average mortgage rate decreased by 3% vs 1 year ago
                      • The lowest rate ever is 2.57! 
                      • The average mortgage duration is 24 years
                      • 55.5% have variable interest rates
                      • 44.5% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.29%, 6.1% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.01%, 1.3% less than 1 year ago,
                      • The average amount issued per mortgage is €119,964: a increase of 3,7% vs last year.
                      • 29,900 mortgages were issued -2.5% vs last year.
                      • 3,6 € Bn of mortgages issued for housing in May 2019, -6.1% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

      For a first time since long, all the regions suffer a month on month negative growth. The one with the smallest decreases are

                      • Region of Murcia, -2.6% to 824 mortgages
                      • Community of Navarra, -4.5% to 383 mortgages
                      • Basque country, -5.2% to 1,703 mortgages

       

      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                      • Community of Valencia, +16.9% to 3,748 mortgages
                      • Region of Murcia, +12% to 824 mortgages
                      • Basque country, +9.3% to 1,703 mortgages

       

       

      The Spanish mortgage rates situation in May 2019

                      • Average mortgage has an interest rate of 2.59% (same as last month)
                      • The average mortgage rate decreased by 2.9% vs 1 year ago
                      • The lowest rate ever is 2.57! 
                      • The average mortgage duration is 24 years
                      • 56.8% have variable interest rates
                      • 43.2% have fixed interest rates (+6.7% vs last year)
                      • The average rate for variable rate mortgages is 2.3%, 5.1% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.09%, 1.8% less than 1 year ago,
                      • The average amount issued per mortgage is €124,700: a increase of 3.9% vs last year.
                      • 29,032 mortgages were issued -0.1% vs last year.
                      • 3.6 € Bn of mortgages issued for housing in April 2019, +0.6% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                      • Community of Navarra, +45.3% to 510 mortgages
                      • Aragon, +19.7% to 814 mortgages
                      • Asturias, +11.9% to 556 mortgages

       

       

      The Spanish mortgage rates situation in March 2019

                      • Average mortgage has an interest rate of 2.62% (same as last month)
                      • The average mortgage rate decreased by 2.3% vs 1 year ago
                      • The lowest rate ever is 2.57! 
                      • The average mortgage duration is 24 years
                      • 58.1% have variable interest rates
                      • 41.9% have fixed interest rates (+24.5% vs last year)
                      • The average rate for variable rate mortgages is 2.34%, 2.7% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.11%, 1.6% more than 1 year ago,
                      • The average amount issued per mortgage is €125,341: a increase of 3.9% vs last year.
                      • 30,716 mortgages were issued + 9.2% vs last year.
                      • 3.8 € Bn of mortgages issued for housing in March 2019, +20.3% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                      • The Balearic Islands, +47% to 1,159 mortgages
                      • Andalusia, +17% to 6,069 mortgages
                      • Extremadura, +14% to 503 mortgages

       

      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                      • The Balearic Islands, +49% to 1,159 mortgages
                      • Extremadura, +36% to 503 mortgages
                      • Murcia, +31% to 503 mortgages

       

       

      The Spanish mortgage rates situation in February 2019

                      • Average mortgage has an interest rate of 2.62% (vs 2.57% last month)
                      • The average mortgage rate decreased by 1.1% vs 1 year ago
                      • The current rate: 2.62% is close to the lowest rate ever of 2.57! 
                      • The average mortgage duration is 23 years
                      • 58.2% have variable interest rates
                      • 41.8% have fixed interest rates (+17.4% vs last year)
                      • The average rate for variable rate mortgages is 2.37%, 4% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.05%, 0.4% more than 1 year ago,
                      • The average amount issued per mortgage is €123,911: a increase of 2.9% vs last year.
                      • 31.018 mortgages were issued + 9.2% vs last year.
                      • 3.8 € Bn of mortgages issued for housing in February 2019, +12.3% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

      After a seasonally slower December, January looks even stronger vs December:

                      • Asturias, +24.9% to 728 mortgages
                      • Catalonia, +8.4% to 5.448 mortgages
                      • Pais Vasco, + 2.9% to 1.713 mortgages

       

      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                      • Asturias, +56% to 728 mortgages
                      • Castilla – La Mancha, +43% to 1.321 mortgages
                      • La Rioja, + 39% to 241 mortgages

       

      The 6 regions with the biggest growth on the full year 2018

                      • The Valencian Community, +15.7% to 38.004 mortgages
                      • The Community of Madrid, +14.9% to 65.503 mortgages
                      • Castilla – La Mancha, +14.8% to 12.501 mortgages
                      • La Rioja, +13.5% to 2.332 mortgages
                      • The Community of Navarre, +13.4% to 4.615 mortgages
                      • Catalonia+13% to 57.477 mortgages
                      • Extremadura+12.3% to 5.550 mortgages

       

      The 4 most active regions in 2018

      No surprises, we keep the same regions as the most active ones in terms of transactions:

                      • The Community of Madrid, 65.503 mortgages with a growth of 14.9%
                      • The Andalusia,  65.431 mortgages with a growth of 8.6%
                      • Catalonia57.477 mortgages with a growth of 14.9%
                      • The Valencian Community, 38.004 mortgages with a growth of 15.7%

       

       

      The Spanish mortgage rates situation in January 2019

                      • Average mortgage has an interest rate of 2.57% (vs 2.62% last month)
                      • The average mortgage rate decreased by 4.3% vs 1 year ago
                      • The current rate: 2.57% is the lowest rate ever! 
                      • The average mortgage duration is 22 years
                      • 62.8% have variable interest rates
                      • 37.2% have fixed interest rates (+9.1% vs last year)
                      • The average rate for variable rate mortgages is 2.32%, 8% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.09%, 1.6% more than 1 year ago,
                      • The average amount issued per mortgage is €121,036: a decrease of -0.7% vs last year.
                      • 36.832 mortgages were issued + 22.5% vs last year.
                      • 4.4 € Bn of mortgages issued in January 2019, +21.6% vs last year.

       

      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

      After a seasonally slower December, January looks even stronger vs December:

                      • Madrid Community, +168% to 10.478 mortgages
                      • Castilla – La Mancha, +101% to 1.485 mortgages
                      • Extremadura, + 76% to 542 mortgages

       

      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                      • Madrid Community, +105% to 10.478 mortgages
                      • Castilla – La Mancha, +25% to 1.485 mortgages
                      • Aragón, + 17% to 910 mortgages

       

      The Spanish mortgage rates situation in December 2018

                      • Average mortgage has an interest rate of 2.62% (vs 2.61% last month)
                      • The average mortgage rate decreased by 3.9% vs 1 year ago
                      • The lowest rate ever is 2.57%! 
                      • The average mortgage duration is 24 years
                      • 58.6% have variable interest rates
                      • 41.4% have fixed interest rates (+9.1% vs last year)
                      • The average rate for variable rate mortgages is 2.42%, 4.7% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 2.98%, 4.8% less than 1 year ago,
                      • The average amount issued per mortgage is €126,394: an increased of 9.4% vs last year.
                      • 20.933 mortgages were issued + 0.9% vs last year.
                      • 2.6 € Bn of mortgages issued in December 2018, +10.4% vs last year.

       

      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

      All the regions had a negative growth. Of course December is well known for being less busy all over the world.

       

      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                      • The Basque Country, +20.1% to 1.333 mortgages
                      • The Valencian Community, +17.3% to 2.456 mortgages
                      • Catalonia+12% to 3.390 mortgages

       

      The Spanish mortgage rates situation in November 2018

                      • Average mortgage has an interest rate of 2.61% (vs 2.57% last month)
                      • The average mortgage rate decreased by 5.7% vs 1 year ago
                      • The lowest rate ever is 2.57%! 
                      • The average mortgage duration is 23 years
                      • 64% have variable interest rates
                      • 36% have fixed interest rates (+25.9% vs last year)
                      • The average rate for variable rate mortgages is 2.42%, 0.7% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.07%, 14.1% less than 1 year ago,
                      • The average amount issued per mortgage is €130,651: an increased of 5.5% vs last year.
                      • 28.835 mortgages were issued + 14.2% vs last year.
                      • 5.6 € Bn of mortgages issued in November 2018, +13.7% vs last year.

       

      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                      • The Canary Islands, +39.4% to 1.299 mortgages
                      • The Balearic Islands+17.8% to 899 mortgages
                      • Asturies, +4.7% to 532 mortgages

       

      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                      • The Canary Islands, +28.6% to 1.299 mortgages
                      • Catalonia+25% to 5.363 mortgages
                      • The Valencian Community, +24.4% to 3.178 mortgages

       

      The Spanish mortgage rates situation in October 2018

                      • Average mortgage has an interest rate of 2.57% (vs 2.59% last month)
                      • The average mortgage rate decreased by 4.3% vs 1 year ago
                      • The lowest rate ever is 2.57%! YES, the current rate!
                      • The average mortgage duration is 24 years
                      • 60.4% have variable interest rates
                      • 39.6% have fixed interest rates (+25.9% vs last year)
                      • The average rate for variable rate mortgages is 2.43%, 2.9% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 2.99%, 3.7% less than 1 year ago,
                      • The average amount issued per mortgage is €126,926: an increased of 4.6% vs last year.
                      • 30.356 mortgages were issued + 20.4% vs last year.
                      • 5.8 € Bn of mortgages issued in October 2018, +13.9% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                      • Navarra Community, +21.6% to 472 mortgages
                      • Catalonia+10.7% to 5.808 mortgages
                      • Castilla y Leon, +4.8% to 1.153 mortgages
      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                      • Navarra Community, +53.7% to 472 mortgages
                      • Catalonia+40.7% to 5.808 mortgages
                      • Aragon, +36.8% to 729 mortgages

       

      The Spanish mortgage rates situation in September 2018

                      • Average mortgage has an interest rate of 2.59% (vs 2.62% last month)
                      • The average mortgage rate decreased by 8.3% vs 1 year ago
                      • The lowest rate ever is 2.59%! 
                      • The average mortgage duration is 24 years
                      • 59.9% have variable interest rates
                      • 40.1% have fixed interest rates (+16.7% vs last year)
                      • The average rate for variable rate mortgages is 2.36%, 10.8% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.02%, 5.9% less than 1 year ago,
                      • The average amount issued per mortgage is €127,732: an increased of 4.1% vs last year.
                      • 32.457 mortgages were issued + 9.5% vs last year.
                      • 6.6 € Bn of mortgages issued in September 2018, +10% vs last year.
      The top 4 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                      • Valencian Community, +32.5% to 3.863 mortgages
                      • Madrid, +30.6% to 6.530 mortgages
                      • Murcia+21.5% to 866 mortgages
                      • Catalonia+18.4% to 5.246 mortgages
      The top 4 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                      • La Rioja, +123%
                      • Extremadura, +54%
                      • The community of Navarre+37%
                      • Madrid, +28%

       

      The Spanish mortgage rates situation in August 2018

                      • Average mortgage has an interest rate of 2.62% (vs 2.59% last month)
                      • The average mortgage rate decreased by 4.3% vs 1 year ago
                      • The lowest rate ever is 2.59%!
                      • The average mortgage duration is 24 years
                      • 59.8% have variable interest rates
                      • 40.2% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.43%, 5.5% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 2.99%, 3.1% less than 1 year ago,
                      • The average amount issued per mortgage stands at €122,424, an increased of 9.8% vs last year.
                      • 28.755 mortgages were issued + 6.8% vs last year.
                      • 5.4 € Bn of mortgages issued in August 2018, +11% vs last year.

       

      The top 4 regions with the biggest growth for the number of mortgages issued are:
                      • Extremadura, +31% to 604 mortgages
                      • The Canary Islands, +19,6% to 1.396 mortgages
                      • Cantabria, +16,4% to 326 mortgages
                      • Madrid, +13,9% to 5.000 mortgages

       

      The top 4 regions with the biggest growth in terms of amounts of mortgages issued are:
                      • Extremadura, +61%
                      • Madrid, +29%
                      • Andalusia+28%
                      • Basque country+24%

       

      The Spanish mortgage rates situation in July 2018

                      • Average mortgage has an interest rate of 2.59% (vs 2.63% last month)
                      • Average mortgage rate decreased by 6.3% vs 1 year ago
                      • The lowest rate ever is 2.59%! YES, the current rate reached this month!
                      • Mortgage duration is 22 years
                      • 62.3% have variable interest rates
                      • 37.7% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.32%, 7.3% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.07%, 5.7% less than 1 year ago,
                      • The average amount issued per mortgage stands at €125,120, an increased of 2.1% vs last year.
                      • 29.287 mortgages were issued + 14.6% vs last year.
                      • 3.6 € Bn of mortgages issued in July 2018, +17% vs last year.

       

      The top 4 regions with the biggest growth for the number of mortgages issued:
                      • Extremadura, +38.9% to 457 mortgages.
                      • The Valencian Community+28.1% to 3.276 mortgages
                      • La Rioja+28.1% to 283 mortgages
                      • Madrid, +27,5% to 5.713 mortgages

       

      The top 4 regions with the biggest growth in terms of amounts of mortgages issued:
                      • La Rioja+77.3%
                      • The region of Murcia+43%
                      • Cantabria+39.8%
                      • The Valencian Community+39%

       

      The Spanish mortgage rates situation in June 2018

                      • Average mortgage has an interest rate of 2.63%
                      • Average mortgage rate decreased by 6.8% vs 1 year ago
                      • The lowest rate ever is 2.62% reached in March 2018
                      • Mortgage duration is 23 years
                      • 62.9% have variable interest rates
                      • 37.1% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.19%, 11.3% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.25%, 0.5% more than 1 year ago,
                      • The average amount issued per mortgage stands at €123,896, an increased of 5.1% vs last year.
                      • 30.600 mortgages were issued + 3.9% vs last year.

       

      The top 3 regions with the biggest mortgages growth:
                      • Madrid, +23,2% to 6.399 mortgages,
                      • Aragon, +10.6% to 957 mortgages,
                      • Extremadura, +18.4% to 616 mortgages.

       

      The Spanish mortgage rates situation in May 2018

                      • Average mortgage has an interest rate of 2.63%
                      • Average mortgage rate decreased by 4.3% vs 1 year ago
                      • The lowest rate ever was 2.62% in March 2018
                      • Mortgage duration is 22 years
                      • 61.9% have variable interest rates
                      • 38.1% have fixed interest rates
                      • The average rate for variable rate mortgages is 2.4%, 9.8% less than 1 year ago,
                      • The average rate for fixed-rate mortgages is 3.12%, 6.6% more than 1 year ago,
                      • The average amount issued per mortgage stands at €117,044, an increased of 2.8% vs last year.
                      • 31.166 mortgages were issued + 7.3% vs last year.

       

      While the top 4 regions in terms of annual growth were:
                      • The Canary Islands, +70,9% to 1.984 mortgages,
                      • Extremadura, +18.5% to 570 mortgages,
                      • Pais Vasco, +18.4% to 1.783 mortgages,
                      • Navarra, +17.3% to 441 mortgages

       

      Check the Spanish report from the INE.

      Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

      Stéphane 

      Senior analyst and strategist at HTBIS

      Check the full HTBIS team here

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