ANDALUSIA AND MADRID, THE HEAD-TO-HEAD BETWEEN THE CCA
The number of mortgages formed on homes registered in the records of the property is placed in 16.625 the last month of March, higher than in a 2% in the same month of 2013, According to data released Wednesday by the National Statistics Institute (INE), He recalled that these numbers come from public deeds carried out in previous months.
The annual advance of March, with which the homes mortgaged they put an end to 46 months of consecutive falls, contrasts with the decline of the 33% recorded on February. However, the INE has pointed out that It would be advisable to wait for data from April to analyze these results, since Easter is celebrated this year in April, and last year it took place in March.
The amount average mortgage constituted on homes reached in the third month of the year the 102.397 euros, a 5,6% more than in the same month of 2013, While the capital borrowed rose an 7,7% annual rate, up to the 1.702,3 million euros.
In monthly rate (March on February), mortgages on homes increased by a 1,2%, their biggest rebound this month from 2010. The capital borrowed for mortgaged dwellings also underwent a monthly advance of the 1,2%, also recorded their largest increase in five years.
Caution before we talk about recovery
Data are, all of them are very positive though, as experts warn, “We start from extremely low levels, which is not uncommon for a slight increase”. Experts who, as well as the INE, they don't want to throw still campaigns on the fly. To Fernando Encinar, Head of studies of idealista.com indicates that "still is" soon to know at what pace the market recovers but the increase of the 2% are good news and confirm the data developed by the Council of the notaries. We have to go back to April of 2010 to see an inter-annual increase in formalized on housing mortgages and it is likely that in the coming months we will see even higher data”.
“All points that this year will see an evolution positive in them data from mortgages signed, that certify that we have left in 2013 the worst data on mortgages and 2014 the increase is maintained, or even grows. Banks are increasingly interested in granting more mortgages, We are even seeing how begin to fight to win customers via differentials"
on the other hand, Juan Fernández-Aceytuno, general director of Sociedad de Tasación pointed out yesterday in the context of SIMA that real estate conferences “There will be no mortgages until no flow of investors interested in securitization and mortgage that emit them banks Spanish”. In his opinion, those movements current of them funds of investment is focus in buy cheap and leave fast our market by what until these funds not bet with clarity by Spain through, for example, the purchase of mortgage bonds, the flow of credit to families who want to buy House will not recover. “The funds are giving us fish but not the rods to catch those fish”.
For Juan Fernández-Aceytuno, “in Spain we have the feeling that we are giving away our assets and to avoid having this feeling, among other factors, It is necessary to recover funding. And until we don't see growth in mortgage securitizations will not be. The operations of the funds which we are seeing today are bread for today and hunger for tomorrow”.
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