The mortgage market sigue mejorando, spurred by the best prospects on the price of housing and the minimum interest rates. The capital employed en el mes de septiembre ascendió a los 3.018 million euros, encrypts it not recorded since starting 2013 removed the deduction for purchase of housing. It implies an increase of the 12% over the past year.
With everything, the figure is a sidereal distance of the 18.000 million euros that entities each month during the housing bubble.
El número de mortgages on housing se situó en 26.667 last September, Figure a 10% superior to the of 2015, According to the INE. With this rise in September, mortgage firm stringing two months of consecutive after having picked up promotion a 6,4% in August. Despite the fact that a drop was registered in July of the 15% year following the suspension of the registration of some contracts for legal reasons, the trend of mortgage activity is rising in the past two years.
The average amount de cada contrato hipotecario es de 113.193 euros, a 2,2% more than in the same month of 2015. The increase is due to the recovery of the property prices in major cities such as Madrid and Barcelona, and in some areas of the Mediterranean coast. In monthly rate (August September), mortgages on homes rose a 29,4%, his growing from 2014.
Experts who, After his resurrection, the mortgage market will continue its hot streak and will continue to grow "as it go gaining political stability and raise confidence and the expectations of the most creditworthy buyers". From Bankinter say that “high levels of competition in a more healthy financial sector and the reduction of Mortgage delinquencies to lower levels to the 5% for the first time since 2013 they anticipate growth of the granting of mortgages”.
- The low rates
Interest rates, While, they have shown one of its biggest falls in recent months, lowering of the 3,26% to a new low in the 3,17%. In addition, el porcentaje de new fixed rate mortgages está ya en el 30%, a third of all the contracts that were signed that month. This type of loan has been triggered by attractive offers of banks and the expectation that rates will end up.
In addition, 11.355 mortgages have been innovations (change in conditions), and the 43% of them have been changes in interest rates. Following the amendment of conditions, the average loans interest on mortgages fixed rate decreases 1,3 points and low variable rate mortgages 1,4 points.
Fernando Encinar, Head of studies of Idealist, explains that "not surprising that fixed-rate mortgages return to mark records and already pose the" 30% del total que se concede. La guerra comercial entre entidades parece haberse trasladado a este tipo de hipotecas, What is causing that prices are reducing and to the innovations (changing conditions of the existing mortgages) begin to opt for it”.
Stresses also that for the first time in a "long time" the number of mortgages constituted has been higher than the cancelled, which may be related to "the legal issues that confronted the records during the summer". Like this, It is considered that "we have to wait for new data to check if it's a trend reversal that could alter the current mortgage scenario".