The average rate at which Spanish parties granted mortgages in July was 1.986%which is the highest level recorded since June 2019, when it exceeded 2%, according to information from the Bank of Spain published in the Government Gazette (BOE).
Thus, the average rate of real estate loans for more than three years for the purchase of free housing provided by parties in Spain rose, for the fourth month in a row, to 1.986%, compared to 1.799% recorded in June. A year earlier, the average rate was 1.485%.
The increase takes place in a context where Euribor, the index to which most Spanish mortgages are referenced, Closed the month of July at 0.992%above the 0.852% recorded in June and continues the rise that began in early 2022.
For its part, the average interest rate on housing loans between one and five years due to the purchase of free housing provided by credit institutions in the euro area rose to 2.03% (referred to the previous month), compared to 1.86% previously.
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