Madrid (EFE).- The signing of new mortgages for the purchase of a home sank 24% in May in the interannual rate, its biggest decrease since January 2021, to record 33,398, according to data released this Friday by the National Institute of Statistics (INE).
In addition, the average starting interest rate stood at 3.15% in May, the highest since April 2017, in a context marked by the rise in interest rates to curb inflation and the consequent increase in the cost of financing.
With the new decline in May, which has worsened compared to the previous months, the signing of new mortgages for the acquisition of a home has gone down for four consecutive months.