It is an operation that proportions monthly information on constituted mortgages recorded in the Property Registries across the national territory.

Its objective is to provide information on the number of new mortgages established on real estate and the amount of new mortgage loans, as well as on the modifications and cancellations of mortgages registered, lending insight into the evolution of mortgage activity in Spain.

The statistics provide information on the number of mortgages established during the reference month and on the amount of new mortgage loans associated with them.

The operation also offers information on mortgages with changes in their conditions and on registry cancellations, breaking down the results according to variables such as the nature of the mortgaged property, the lending entity, the autonomous community or the province.

It does not offer information on the total number of mortgages in force, nor on the total outstanding balance of them, but rather on the transactions carried out each month and their amounts.

The Mortgage Statistics include three types of transactions: mortgages constituted, mortgages with registered changes, and mortgages cancelled in the registry.

In the case of modifications, the statistics include both novations, when the loan conditions change with the same financial entity, creditor subrogations, when the creditor entity changes, and debtor subrogations, when the loan holder changes.

The statistics include rural properties and urban properties registered in the Property Registries on which a mortgage is established.

Different types of real estate assets are distinguished for urban properties, such as dwellings, plots and other urban properties (premises, garages, offices, etc.), which allows for an analysis of the evolution of mortgage activity in each category.

The statistics analyse variables related to the characteristics of the mortgages and the mortgaged property assets.

These include the number of mortgages, the capital lent, the average amount of the transactions, the nature of the mortgaged property, the lending entity, the initial interest rate, the term of the loans and the registered modifications or cancellations.

The information comes from the Property Registries from the entire national territory, which provide the INE with data relating to registered property mortgages.

Subsequently, the information is subjected to validation and cleansing processes to ensure the consistency and quality of the results before dissemination.

The Mortgage Statistics is an ongoing operation whose results are published on a monthly basis.

This frequency provides for the monitoring of the evolution of the mortgage market and analyse its behaviour over time.

A mortgage is a contract by which real estate is offered as collateral to ensure the fulfilment of an obligation, usually the repayment of a loan.

Mortgages must be registered in the Property Registry, reflecting the amount of the secured obligation and, where applicable, the interest associated with the transaction.

The statistics provide information on the capital lent and the average amount of mortgages established.

It also provides information on certain financial conditions of home mortgages, such as the initial interest rate applied, the average loan term, and the distribution between fixed and variable interest rates.

Constituted mortgages reflect the new transactions recorded in the Property Registries during the reference period.

Modified mortgages are those in which changes occur in their conditions through novation or subrogation.

Cancelled mortgages are those whose mortgage guarantee has been extinguished and is thus recorded in the Property Registry.

The results reflect the evolution of mortgage activity recorded in Spain during the reference period.

For its correct interpretation, it is important to note that the reference date corresponds to the registration of the transaction in the Property Registry, which may not coincide with the date of the public deed was signed.

The Mortgage Statistics are a source of information for understanding the evolution of the mortgage and real estate loan market.

Its results are used by researchers, companies, the general public, the financial sector and Public Administrations to analyse mortgage activity and its evolution regionally and over time.

The INE applies control and validation procedures throughout all the phases of the statistical process, from the compilation of the information to the publication of the results.

Similarly, the statistical operation is produced in accordance with the principles of the European Statistics Code of Practice, which guarantee the quality, independence and reliability of official statistical information.