The number of mortgages constituted on dwellings was 33,128, 10.3% fewer than in January 2023. The average amount of these transactions was 138,149 euros, a decrease of 2.7%.
The average amount of the mortgages on the total number of properties recorded in the land registries (from previous public deeds) decreased by 0.2%.
For mortgages constituted on the total of properties, the average interest rate was 3.46% and the average term was 24 years. 41.8% of mortgages on dwellings were with a variable interest rate and 58.2% with a fixed rate.
The average starting interest rate was 3.24% for variable rate home mortgages and 3.64% for fixed rate mortgages.
Percentage
The total number of mortgages with changes in their conditions recorded in the land registries fell by 5.8% in January in the annual rate.
Novations (or modifications with the same financial institution) decreased by 12.2% and subrogations to the debtor (changes the holder) by 12.1%. In contrast, subrogations to the creditor (change of entity) increased by 34.4%.
48.9% of the 11,788 mortgages with changes in their terms and conditions were due to changes in the interest rates.
The only autonomous communities with a positive annual variation rate in the number of mortgages on dwellings in January were Madrid (13.2%), Galicia (9.0%) and Aragon (5.9%).
Principality of Asturias recorded the largest decrease, 30.6%.
Percentage
The data for 2024 are provisional and will be reviewed when the data for the same period next year are published. All results of this operation are available on INEBase.
The Mortgage Statistics provide information on constitutions of mortgages, that is, on the number of new mortgages constituted on real estate properties during the reference month and the amount of new mortgage loans corresponding to said mortgages. Since 2006, information on mortgage changes and cancellations is published. All this information is broken down on the basis of various variables, such as the nature of the mortgaged property or the lending institution.
All the information on constitutions, changes and register cancellations of mortgages is obtained from the information contained in the Land Registers of the entire national territory, by virtue of a collaboration agreement signed in 2004 between the two institutions. In order to facilitate comparisons, the data for 2003 are presented according to both the old and the new base.
More information in the methodology and the standardized methodological report.
INE statistics are produced in accordance with the Code of Good Practice for European Statistics. For more information see the section on Quality at INE and the Code of Best Practices on the INE website.
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