A good time to get a mortgage

The number of mortgages taken out in February were nearly 16% higher than in 2015. This fact shows how the real estate sector is going through a good time. We recently mentioned this increase. However, today we can confirm it.

Mortgages

A RISE DURING 21 MONTHS IN A ROW

The Instituto Nacional de Estadística (INE), has issued the facts and figures regarding February 2016 and they show that 24.887 mortgages were taken out. If we compare these figures with 2015, the rise is of 15.9%. Furthermore, 2015 had been much better than the previous year. We can state that during 21 months in a row, the number of mortgages taken out have increased and therefore this fact has led to a boost to the real estate sector. When we compare the figures of January and February we can see an increase of more than 5 points. It seems that taking out mortgages in Spain is going on a steady path.

Mortgages

MADRID LEADS THE FIELD

Regarding formalised housing mortgages during February, the Madrid Autonomous Community is placed second, being Andalusia first. The number of mortgages signed in the Community of Madrid was 4.654, whereas in Andalusia the number was 4.675. As we can see, the figures are very close to each other. Catalonia comes third, with 3.939 signed mortgages. We are aware of the fact that the reduction of the average interest rates of mortgage loans have encouraged people to sign them. In February, the average interest rate regarding mortgages was set at 3.31%, which meant a slight reduction compared to February 2015. According to the Instituto Nacional de Estadística, all these facts and figures come from formalized public deeds.

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