Madrid (EFE) to the 13.5% registered the previous month.
The average amount of these loans, registered in November in the property registries, rose 7.4% year-on-year and reached 157,476 euros, according to provisional data published this Wednesday by the National Institute of Statistics (INE), which specify that it is, like every month, operations carried out previously.
The value of mortgages constituted on homes stood at 5,804.1 million euros after growing 15.6% year on year, while the capital lent for all types of urban properties reached 7,918.3 million, 12, 4% more than in November 2021.
Of this last amount, almost 72% was allocated to mortgages constituted on homes, the data specifies.
Rising interest rates
As regards interest rates, that of mortgages on homes stood at an average of 2.55% and the repayment term, in 25 years.
34.6% of mortgages on homes were established at a variable rate in November, the highest percentage since June 2020, while 65.4% were signed at a fixed rate, explains the INE.
The average interest at the start of the loan was 2.12% for variable-rate home mortgages and 2.80% for fixed-rate mortgages, a percentage that rose again in December, according to data published yesterday by the Association Mortgage, up to 3.116%, the highest level since August 2014.
Fewer changes in conditions, but more fixed rates
The total number of mortgages with changes in their conditions registered in the property records was 10,760 in November, 47.7% less than in the same month of 2021.
Almost 35% of those 10,760 mortgages agreed to changes in interest rates, with which the percentage of fixed-interest mortgages increased from 16.3% to 51.2%, while that of variable-interest mortgages decreased from 87, 7% to 47%, depending on the data.
Considering the type of change in the conditions, in November there were a total of 8,839 novations (or modifications agreed with the same financial entity), with an annual decrease of 49%.
For its part, the number of operations that change entities (subrogations to the creditor) fell by 39.3% and the number of mortgages in which the owner of the mortgaged asset changes (subrogations to the debtor) fell by 44.6%.
Andalusia and Catalonia topped the ranking in November
The communities with the highest number of mortgages constituted on homes in November were Andalucía (8,271); Catalonia (6,947) and the Community of Madrid (6,640).
The autonomies in which more capital was lent for the constitution of mortgages on homes were Madrid (1,433.8 million euros); Catalonia (1,177.4 million) and Andalusia (1,041.6 million).
Lastly, those Communities with the highest annual rates on the loaned capital were Extremadura (55.4%), La Rioja (50.8%) and Canarias (50%).