The average nominal value of a mortgage grows 6.35% in April

For a few months, everything indicates that the mortgage market is experiencing its first golden age since the real estate bubble burst in 2007. Last year, more than 678,000 home sales transactions in Spainthe highest figure in the last 14 years.

Last week, the General Council of Notaries published the data collected by the Statistical Information Center of Notaries that reflected an increase in the sale of homes of 15.5 percent year-on-year in March. This growth, which has been generalized throughout the country, with the exception of Navarra and the Basque Country, has been more pronounced in the Canary Islands (44.8%) and in Cantabria (29.1%).

Consequently, loans for the purchase of a home have increased by 8.9% year-on-year at the national level.

What type of mortgages are being requested?

According to the latest report prepared by the TRIOTECA Study Center, which incorporates digital mortgage data collected during the month of April this year, the average value of the home for which a mortgage was requested stood at €206,189, 2 .27% less than in March.

In addition, 93.1% of mortgages have been granted for a second-hand home, compared to only 6.9% that corresponded to a new home. Besides, The average nominal value of the mortgage requested in April was €160,637, which is 6.35% more than in March and the highest figure so far this year.

Regarding the agreed interest rate, 96% of the digital mortgages requested in April are at a fixed rate, which has been set, on average, at 1.20%, Variable rate ones at 0, 93%. The former have been granted with an average term of 26.7 years, while in the latter this period amounts to 30 years.

36-year-old employee, the applicant profile

If we look at the typical profile that requests a mortgage loan, we believe that the average age is 36.4 years. When analyzing the employment situation of the interested parties, the most represented group is that of wage earners, accounting for 72% of the total applications, followed by civil servants (11.2%), self-employed (9.1%), pensioners (2, 6%), entrepreneurs (1.3%) and unemployed (0.9%).

This information is not far from that offered by a well-known digital real estate portal, which offered a very similar profile of the people who apply for a mortgage are mostly women (in 57% of cases), with an average age of 39 years and whose economic level is high.

Related Posts:

What is the profile of a mortgage applicant?

More information:

Mortgages: who and under what conditions are requested?

Updated news: 05-16-2022 09:00