MADRID, 21 Jun. (EUROPA PRESS) –
The average rate at which Spanish entities granted mortgage loans in May reached 3.967%, which is its highest level recorded since February 2009, when it stood at 4.324%, according to data collected by the Bank of Spain.
In this way, the average rate of mortgage loans for more than three years for the acquisition of free housing granted by entities in Spain rose for the fifteenth consecutive month, rising by 28 basis points compared to the 3.683% observed in April. In May 2022, the average rate on new mortgages was 1.54%.
For its part, the average rate of mortgage loans of between one and five years for the acquisition of free housing granted by credit institutions in the euro area was 3.810% (referring to the previous month), compared to 3.770% for a month before and 1,720% of the same month of 2022.
In this context, the twelve-month Euribor, the index to which most Spanish mortgages are referenced, closed the month of May at 3.862% compared to 3.757% in April and 0.287% in May 2022.
The Euribor average so far in June is 3.95%, having exceeded the level of 4% in the last four days.
