Fixed-rate mortgages rise from 4% to 6% in six months


The subscribed fixed rate mortgages have grown 6% in June this year compared to 4% accounted for the total portfolio in December 2015, according to data provided by the Spanish Mortgage Association (AHE).

However, the mortgage portfolio of Spanish banks for 94% of loans were made with variable rates (revision rate of less than one year). In a report on the Spanish mortgage portfolio, the AHE stresses that the weight in the portfolio of mortgage loans with fixed rates of two entities analyzed even managed to exceed 10%.

The total volume of the portfolio analyzed in the report amounts to EUR 505 018 000 of corresponding to 5,244,527 loan portfolio, accounting for 93.3% of the outstanding balance at national level to June. The portfolio data comes 12 credit institutions, whose mortgage balance represents 93.3% of the total national mortgage outstanding, excluding mortgage assets.

In the first six months of the year a total of 208,444 new mortgages, of which 70.3% are constituted housing. According to the AHE, the number of mortgages on housing increased 20.1%, to 146,605, in the first half of 2016 compared to the same period of 2015.

The amount of new housing mortgages exceeded 15,800 million euros between January and June, up 24.2% year on year. In the first half of the year, the average amount per mortgage on housing totaled 107,886 euros, 3.4% more than the same period of 2015.