The number of mortgages constituted on dwellings increased by 24.1% last November compared to the same month of 2020, to add 36,220 loans, its highest number in a month of November since 2010when more than 43,000 mortgages were signed, according to data released this Wednesday by the National Institute of Statistics (INE).
With the advance in November, more than three points lower than in October, the home mortgage firm has chained nine months of consecutive year-on-year increases.
According to Statistics, the average amount of mortgages constituted on homes increased by 1.5% in November, to 138,189 euroswhile the borrowed capital grew by 26%, to 5,005 million euros.
In intermonthly rate (November 2021 over October of the same year), home mortgages fell 0.1%, while borrowed capital remained flat. In the same month of 2020, monthly increases of 2.9% and 3.4%, respectively, were registered, although in the months of November 2019 and 2018 the data were worse than those registered in 2021.
In the penultimate month of last year, the average interest rate for all mortgage loans stood at 2.59%, with an average term of 24 years. In the case of homes, the average interest rate was 2.53%, above the 2.42% of a year before, with an average term of 25 years.
32.5% of home mortgages were arranged last November at a variable rate, while 67.5% were signed at a fixed rate. The average interest rate at the beginning was 2.17% for home mortgages at a variable rate and 2.74% for fixed rate mortgages.