SPANISH MORTGAGE TRENDS

Mortgage lending to home buyers in Spain was up six points one per cent in January to 19,390 new loans, according to the latest provisional figures from the Association of Spanish Notaries.
The average new loan made in January had a value of €135,616, an increase of nearly a per cent in a year.
This suggests that as long as mortgage lending for residential acquisitions continues to rise, the property market will continue to flourish.
Mortgage lending figures from the National Institute of Statistics (INE) that counts new mortgage loans inscribed in the Land Register a month or two after the notaries count them, confirm the current situation.
The 12-month Euribor, the base rate used to calculate interest payments on most mortgages in Spain, came in at -0.109 for its average in March, a slight fall on the previous month, but 42,9 per cent higher (less negative) than the same month a year before.
As a result, borrowers in Spain with annually resetting Spanish mortgages will see their mortgage payments rise by around four euros per month for a typical €120,000 loan with a 20-year term.
On a quarterly basis, Euribor went from -0.129 at the end of December 2018 to -0.109 at the end of the first quarter 2019, following a trend towards positive territory started in March last year.