Press Release: Mortgage Statistics (M). June 2024. Provisional data.

Main results

The number of mortgages on dwellings registered in the land registries in June was 31,526, 5.5% less in annual rate.
The average amount of mortgages on dwellings increased by 1.9% and stood at 146,117 euros.
The average interest rate on new mortgages on dwellings was 3.26%.

More information

Annex of tables (includes information from the Autonomous Communities)
Detailed results

The number of mortgages on dwellings was 31,526, 5.5% less than in June 2023. The average amount of these transactions was 146,117 euros, an increase of 1.9%.

The average amount of mortgages on the total number of properties registered in the land registers (from previously executed public deeds) decreased by 1.7%.

Mortgages constituted. June 2024

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Mortgage interest rate on dwellings

For residential mortgages, the average interest rate was 3.26% and the average term was 25 years. 42.6% of residential mortgages were taken out at a variable rate and 57.4% at a fixed rate.

The average starting interest rate was 3.06% for variable rate residential mortgages and 3.44% for fixed rate mortgages.

Average interest rate on dwellings

Percentage

Mortgages with registration changes

The total number of mortgages with changes in their conditions recorded in the land registries increased by 37.6% in June at an annual rate.

Novations (or modifications with the same financial institution) increased by 32.3% and subrogations to the debtor (change of holder) by 392.0%. Subrogations to the creditor (change of institution) decreased by 28.4%.

Mortgages with registration changes. June 2024

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81.1% of the 15,112 mortgages with changes in their terms and conditions were due to changes in the interest rates.

Results by Autonomous Community

The Autonomous Communities with the highest annual rates of change in the number of mortgages on dwellings in June were Principado de Asturias (6.8%), Comunidad Foral de Navarra (5.2%) and Cataluña (2.3%).

On the other hand, Canarias (-26.2%), País Vasco (-23.3%) and Illes Balears (-22.7%) showed the highest decreases in their annual rates.

Monthly variation in the number of mortgages on dwellings. June 2024

Percentage

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Revision and updating of data

The data for 2024 are provisional and will be reviewed when the data for the same period next year are published. All results of this operation are available on INEbase.

Methodological note

The Mortgage Statistics provide information on constitutions of mortgages, that is, on the number of new mortgages constituted on real estate properties during the reference month and the amount of new mortgage loans corresponding to said mortgages. Since 2006, information on mortgage changes and cancellations is published. All this information is broken down on the basis of various variables, such as the nature of the mortgaged property or the lending institution.

All the information on constitutions, changes and register cancellations of mortgages is obtained from the information contained in the Land Registers of the entire national territory, by virtue of a collaboration agreement signed in 2004 between the two institutions. In order to facilitate comparisons, the data for 2003 are presented according to both the old and the new base.

Type of survey:: monthly continuous survey.
Population scope:: the registration of mortgages constituted, with changes or cancelled in the land registries.
Geographical scope:: the entire national territory, by Autonomous Communities and provinces.
Reference period of the results and the information:: the calendar month.
Classification:: rural and urban properties (dwellings, plots and other urban).
Collection method:: administrative registers from the Association of Land and Mercantile Registrars of Spain.

More information in the methodology and the standardized methodological report.

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. For more information see the section on Quality at INE and the Code of Best Practices on the INE website.