The total number of mortgages constituted on dwellings recorded in

28 April 2015
Mortgage Statistics (M)
February 2015. Provisional data
The total number of mortgages constituted on dwellings recorded
in the land registries stands at 21,298 in February, 29.2% higher
than that of the same month of 2014
The average value of the mortgages constituted on dwellings
increases 6.1% in the annual rate, standing at 109,486 euros
During the month of February 2015, the average amount of mortgage constitutions
recorded in the land registries (from previous public deeds) stood at 120,017 euros,
17.2% less than that of the same month of 2014.
The number of mortgages constituted on dwellings was 21,298, that is, 29.2% higher than
that registered in February 2014. The average value was 109,486 euros, showing an annual
increase of 6.1%.
Average amount mortaged on dwellings in thousands of euros
120
101.4 103.2 102.4 100.4
99.2
98.6
100.9 102.4
107.8
99.9
104.8 104.9 105.8 109.5
80
40
Feb-15
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
0
The value of the mortgages constituted on urban properties reached 3,550.4 million euros,
0.6% less than that reached in February 2014. On dwellings, the capital loaned reached
2,331.8 million euros, indicating an annual increase of 37.1%.
Mortgages constituted. February 2015
Total
Total properties
Number of mortgaged properties
Capital loaned (thousands of euros)
Average amount (euros)
Rustic properties
Number of mortgaged properties
Capital loaned (thousands of euros)
Average amount (euros)
Urban properties
Number of mortgaged properties
Capital loaned (thousands of euros)
Average amount (euros)
Dwellings
Number of mortgaged properties
Capital loaned (thousands of euros)
Average amount (euros)
Variation rate
Monthly
Annual
Interannual
accumulated
31,473
3,777,288
120,017
-4.3
-3.0
1.4
22.2
1.2
-17.2
18.2
6.4
-10.0
1,653
226,938
137,289
17.3
3.0
-12.2
12.8
41.5
25.5
-5.2
-2.9
2.4
29,820
3,550,350
119,059
-5.3
-3.3
2.0
22.7
-0.6
-19.0
19.7
7.0
-10.6
21,298
2,331,831
109,486
1.8
5.4
3.5
29.2
37.1
6.1
24.5
31.0
5.2
M – FEBRUARY 2015 (1/9)
Mortgages constituted according to the nature of the property
According to the nature of the property, mortgages constituted on dwellings concentrated
61.7% of the total capital loaned in February.
Distribution of the capital loaned for mortgages according to the
nature of the property (%)
70
61.7
60
50
40
25.4
30
20
6.9
10
6.0
0
Dwellings
Lands
Other urban properties
Rustic properties
Monthly evolution of the mortgages constituted on dwellings
In order to contribute to the analysis and interpretation of the data, the following chart shows
the variation on the number of mortgages constituted on dwellings between the months of
February and January for the last five years. In 2015, the monthly rate registered an increase
of 1.8%, the highest increase of this period.
Evolution of the monthly rate of de number of mortgages constituted for the
dwellings (February variation as compared with January of the same year)
5
1.8
0.8
0
-5
-5.1
-5.5
2013
2014
-10
-9.9
2011
2012
2015
Regarding the capital loaned for mortgages constituted on dwellings, the monthly rate of
2015 was 5.4%, also the highest of the period.
Evolution of the monthly rate of the capital lent of mortgages constituted for the
dwellings (February variation as compared with January of the same year)
10
5
5.4
4.2
0
-5
-4.6
-3.8
2013
2014
-10
-11.2
-15
-20
2011
2012
2015
M – FEBRUARY 2015 (2/9)
Mortgage interest rates
94.0% of the mortgages constituted in February used a variable interest rate, as compared to
6.0% using a fixed rate. Euribor was the most used reference interest rate in constituting
mortgages with a variable interest rate, specifically in 89.9% of new contracts.
The average interest rate for the total properties was 3.34% and the average term was 21
years.
The average interest rate for mortgages constituted on dwellings was 3.35%, that is, 18.5%
less than that registered in February 2014.
3.88
3.90
3.76
3.59
3.60
3.49
3.50
3.29
3.35
Feb-15
3.82
Jan-15
3.97
Dec-14
4.04
Nov-14
4.11
Oct-14
4.14
4.00
Sep-14
5.00
Aug-14
Average interes rate on dwellings
3.00
2.00
1.00
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
0.00
Mortgages with registration changes
In February, the total number of mortgages with changes in their conditions recorded in the
land registries stood at 18,582, 0.6% higher than the figure recorded last year. On dwellings,
the number of mortgages with modified conditions decreased 3.0%.
Considering the type of modification of conditions, in February 15,105 novations (or
modifications produced within the same financial institution) were produced, with an increase
of 0.9%, as compared to February 2014. The number of transactions that changed
institutions (creditor subrogations) increased 12.1%, and the number of mortgages that
changed the holder of the mortgaged property (debtor subrogations) decreased by 37.3%.
Mortgages with registration changes. February 2015
Total
Total mortgages with changes
Novations
Subrogations Debtor
Subrogations Creditor
Variation rate
Inter-monthly
18,582
15,105
552
2,925
10.8
16.0
-19.7
-4.6
Interannual
0.6
0.9
-37.3
12.1
Interannual
accum ulated
-18.2
-17.6
-34.7
-16.7
Mortgages with changes in interest rate conditions
Of the 18,582 mortgages with changes in their conditions recorded in the land registries,
46.1% were due to changes in the interest rates.
M – FEBRUARY 2015 (3/9)
After the change in conditions, the percentage of mortgages at a fixed interest rate
decreased from 5.6% to 3.5%, and that of mortgages at a variable interest rate increased
from 93.0% to 95.9%.
Euribor was the rate to which the greatest percentage of mortgages at a variable rate was
referenced, both before (78.6%) and after the change (86.7%).
After the changing of conditions, the average interest rate of loans in mortgages at a fixed
rate decreased by 0.89 points, and that of mortgages at a variable rate did so by 1.02 points.
Mortgages with registration changes in interest rates conditions. February 2015
Interest rate modality
Total interest rate changes
Fixed
Variable
-Euribor
Without interest
Before the change in
No. of
Original
mortgages interest rate
structure %
8,573
100.0
479
5.6
7,969
93.0
6,737
78.6
125
1.4
interest rate
Original
average
interest of loan
After the change in interest rate
No. of
Final interest Final average
mortgages rate structure interest of
%
loan
8,573
100.0
4.57
299
3.5
3.68
4.34
8,219
95.9
3.32
4.26
7,432
86.7
3.25
55
0.6
Results by Autonomous Community
The Autonomous Communities with the highest number of mortgages constituted on
dwellings in February were Comunidad de Madrid (4,066), Andalucía (4,032) and Cataluña
(3,214).
The Autonomous Communities that registered the greatest annual variation rates were
Aragón (89.5%), País Vasco (59.5%) and Andalucía (42.9%).
The Autonomous Communities with the greatest capital loaned for mortgages constituted on
dwellings were Comunidad de Madrid (606.7 million euros), Cataluña (405.1 million) and
Andalucía (376.8 million).
Mortgages constituted on dwellings by Autonomous City and Community. February 2015
Num ber
Variation rate
Monthly
TOTAL
Andalucía
Aragón
Asturias , Principado de
Balears, Illes
Canarias
Cantabria
Castilla - La Mancha
Castilla y León
Cataluña
Comunitat Valenciana
Extremadura
Galicia
Madrid, Com unidad de
Murcia, Región de
Navarra, Comunidad Foral de
País Vas co
Rioja, La
21,298
4,032
688
326
628
598
221
801
683
3,214
2,256
304
787
4,066
566
276
1,668
126
1.8
6.3
15.6
-9.7
2.8
-60.8
25.6
-4.2
1.3
-12.3
8.6
-18.7
-4.8
29.2
-7.2
-15.6
53.9
-24.1
Annual
29.2
42.9
89.5
24.0
36.2
-21.7
25.6
15.4
25.3
32.4
29.3
1.7
42.3
20.4
23.9
-20.0
59.5
17.8
Capital loaned
Variation rate
(thous ands of euros ) Monthly
Annual
2,331,831
5.4
376,777
9.2
64,967
16.2
27,944
-8.3
72,296
-13.7
49,376
-56.2
22,577
33.7
66,177
-19.5
51,319
-3.2
405,063
-5.6
181,993
11.2
21,637
-17.7
80,131
-4.4
606,695
23.8
45,446
-2.8
28,118
-19.4
214,281
57.0
9,787
-29.4
37.1
51.5
99.4
27.9
23.8
-6.9
39.8
8.3
18.6
43.4
34.1
1.2
69.0
28.5
39.8
-24.7
75.5
-5.5
M – FEBRUARY 2015 (4/9)
The Autonomous Communities with the greatest monthly rates in the number of mortgages
constituted on dwellings were País Vasco (53.9%), Comunidad de Madrid (29.2%) and
Cantabria (25.6%).
In turn, the only Autonomous Community registering a decrease in the monthly variation rate
were Canarias (−60.8%), La Rioja (−24.1) and Extremadura (−18.7%).
Monthly variation of the number of mortgages constituted on dwellings.
February 2015
País Vasco
53.9
Madrid, Comunidad de
29.2
Cantabria
25.6
Aragón
15.6
Comunitat Valenciana
8.6
Andalucía
6.3
Balears, Illes
2.8
TOTAL
1.8
Castilla - La Mancha
1.3
Castilla y León
-4.2
Galicia
-4.8
Murcia, Región de
-7.2
Asturias, Principado de
-9.7
Cataluña
-12.3
Navarra, Comunidad Foral de
-15.6
Extremadura
-18.7
Rioja, La
Canarias
-24.1
-60.8
M – FEBRUARY 2015 (5/9)
Mortgages Statistics
February 2015. Provisional data
M.1 Total mortgaged rustic and urban buildings
Capital in thousands of euros
Total buildings
Number
Capital
TOTAL
Andalucía
Aragón
Asturias, Principado de
Balears, Illes
Canarias
Cantabria
Castilla y León
Castilla - La Mancha
Cataluña
Comunitat Valenciana
Extremadura
Galicia
Madrid, Comunidad de
Murcia, Región de
Navarra, Comunidad Foral de
País Vasco
Rioja, La
Ceuta
Melilla
31,473
5,975
1,000
539
938
983
370
1,427
1,207
4,535
3,282
541
1,362
5,543
972
409
2,083
217
36
54
3,777,288
584,010
97,171
58,091
134,386
112,585
30,729
128,466
108,427
594,526
275,493
51,275
128,495
943,041
84,970
63,152
343,987
18,019
12,391
8,074
Rustic buildings
Number
Capital
1,653
423
97
41
61
32
9
197
215
103
120
91
61
25
104
23
28
23
0
0
226,938
58,600
11,609
11,904
9,333
6,298
567
11,907
18,057
23,527
9,600
12,581
10,949
17,162
10,853
4,837
6,519
2,635
0
0
Urban buildings
Number
Capital
29,820
5,552
903
498
877
951
361
1,230
992
4,432
3,162
450
1,301
5,518
868
386
2,055
194
36
54
3,550,350
525,410
85,562
46,187
125,053
106,287
30,162
116,559
90,370
570,999
265,893
38,694
117,546
925,879
74,117
58,315
337,468
15,384
12,391
8,074
M.2 Urban buildings, according to type of building
Capital in thousands of euros
Urban buildings
Number
Capital
TOTAL
Andalucía
Aragón
Asturias, Principado de
Balears, Illes
Canarias
Cantabria
Castilla y León
Castilla - La Mancha
Cataluña
Comunitat Valenciana
Extremadura
Galicia
Madrid, Comunidad de
Murcia, Región de
Navarra, Comunidad Foral de
País Vasco
Rioja, La
Ceuta
Melilla
29,820
5,552
903
498
877
951
361
1,230
992
4,432
3,162
450
1,301
5,518
868
386
2,055
194
36
54
3,550,350
525,410
85,562
46,187
125,053
106,287
30,162
116,559
90,370
570,999
265,893
38,694
117,546
925,879
74,117
58,315
337,468
15,384
12,391
8,074
Dwellings
Number
21,298
4,032
688
326
628
598
221
801
683
3,214
2,256
304
787
4,066
566
276
1,668
126
24
34
Capital
2,331,831
376,777
64,967
27,944
72,296
49,376
22,577
66,177
51,319
405,063
181,993
21,637
80,131
606,695
45,446
28,118
214,281
9,787
3,196
4,051
Lots
Number
614
123
6
6
15
7
1
54
42
79
51
45
13
95
16
12
41
7
0
1
Other urban land
Number
Capital
Capital
261,349
33,678
1,513
763
5,397
308
175
10,042
6,211
17,376
10,474
2,987
3,022
119,443
3,456
11,916
32,999
1,389
0
200
7,908
1,397
209
166
234
346
139
375
267
1,139
855
101
501
1,357
286
98
346
61
12
19
957,170
114,955
19,082
17,480
47,360
56,603
7,410
40,340
32,840
148,560
73,426
14,070
34,393
199,741
25,215
18,281
90,188
4,208
9,195
3,823
M - FEBRUARY 2015 (6/9)
February 2015. Provisional data
M.3 Rustic buildings, according to loaning bank
Capital in thousands of euros
Rustic buildings
Number
Capital
TOTAL
Andalucía
Aragón
Asturias, Principado de
Balears, Illes
Canarias
Cantabria
Castilla y León
Castilla - La Mancha
Cataluña
Comunitat Valenciana
Extremadura
Galicia
Madrid, Comunidad de
Murcia, Región de
Navarra, Comunidad Foral de
País Vasco
Rioja, La
Ceuta
Melilla
1,653
423
97
41
61
32
9
197
215
103
120
91
61
25
104
23
28
23
0
0
226,938
58,600
11,609
11,904
9,333
6,298
567
11,907
18,057
23,527
9,600
12,581
10,949
17,162
10,853
4,837
6,519
2,635
0
0
Banks
Number
1,018
264
26
21
51
22
4
135
95
62
85
66
54
20
70
5
21
17
0
0
Capital
157,105
40,119
3,831
10,457
8,661
2,070
298
9,381
8,499
20,530
6,871
6,904
9,765
14,125
6,434
2,647
4,801
1,712
0
0
Other banks
Number
Capital
635
159
71
20
10
10
5
62
120
41
35
25
7
5
34
18
7
6
0
0
69,833
18,481
7,778
1,447
672
4,228
269
2,526
9,558
2,997
2,729
5,677
1,184
3,037
4,419
2,190
1,718
923
0
0
M.4 Urban buildings, according to loaning bank
Capital in thousands of euros
Urban buildings
Number
Capital
TOTAL
Andalucía
Aragón
Asturias, Principado de
Balears, Illes
Canarias
Cantabria
Castilla y León
Castilla - La Mancha
Cataluña
Comunitat Valenciana
Extremadura
Galicia
Madrid, Comunidad de
Murcia, Región de
Navarra, Comunidad Foral de
País Vasco
Rioja, La
Ceuta
Melilla
29,820
5,552
903
498
877
951
361
1,230
992
4,432
3,162
450
1,301
5,518
868
386
2,055
194
36
54
3,550,350
525,410
85,562
46,187
125,053
106,287
30,162
116,559
90,370
570,999
265,893
38,694
117,546
925,879
74,117
58,315
337,468
15,384
12,391
8,074
Banks
Number
25,750
4,818
623
353
809
807
338
980
786
4,017
2,693
423
1,081
5,096
705
260
1,718
159
34
50
Capital
3,087,592
458,361
52,664
33,395
109,853
93,429
27,927
88,673
67,892
524,134
219,615
36,328
94,682
872,415
61,609
35,110
287,369
12,610
4,238
7,288
Other banks
Number
Capital
4,070
734
280
145
68
144
23
250
206
415
469
27
220
422
163
126
337
35
2
4
462,758
67,049
32,898
12,792
15,200
12,858
2,235
27,886
22,478
46,865
46,278
2,366
22,864
53,464
12,508
23,205
50,099
2,774
8,153
786
M - FEBRUARY 2015 (7/9)
February 2015. Provisional data
M.5 Total mortgages cancelled, according to type of building
Total buildings
TOTAL
Andalucía
Aragón
Asturias, Principado de
Balears, Illes
Canarias
Cantabria
Castilla y León
Castilla - La Mancha
Cataluña
Comunitat Valenciana
Extremadura
Galicia
Madrid, Comunidad de
Murcia, Región de
Navarra, Comunidad Foral de
País Vasco
Rioja, La
Ceuta
Melilla
Rustic buildings
40,322
8,199
1,080
813
1,415
1,672
543
2,423
1,715
5,481
5,481
832
1,786
5,108
1,521
413
1,394
367
33
46
1,713
474
88
35
62
51
13
147
132
83
196
102
104
40
129
9
13
35
0
0
Dwellings
Lots
26,649
5,641
658
414
931
993
322
1,390
1,087
3,692
3,767
529
1,072
3,814
971
252
844
213
21
38
Other urban land
1,291
351
30
125
51
41
14
100
92
94
90
81
12
90
63
24
17
15
0
1
10,669
1,733
304
239
371
587
194
786
404
1,612
1,428
120
598
1,164
358
128
520
104
12
7
M.6 Total cancelled mortgages, according to type of building and
loaning bank
Total buildings
Banks
TOTAL
Andalucía
Aragón
Asturias, Principado de
Balears, Illes
Canarias
Cantabria
Castilla y León
Castilla - La Mancha
Cataluña
Comunitat Valenciana
Extremadura
Galicia
Madrid, Comunidad de
Murcia, Región de
Navarra, Comunidad Foral de
País Vasco
Rioja, La
Ceuta
Melilla
34,469
7,041
800
571
1,257
1,460
478
2,043
1,476
4,782
4,659
776
1,601
4,470
1,357
278
1,080
267
32
41
Rustic buildings
Banks
Other
banks
5,853
1,158
280
242
158
212
65
380
239
699
822
56
185
638
164
135
314
100
1
5
1,278
283
65
23
51
44
12
111
114
53
158
76
97
36
114
2
10
29
0
0
Urban buildings
Banks
Other
banks
435
191
23
12
11
7
1
36
18
30
38
26
7
4
15
7
3
6
0
0
33,191
6,758
735
548
1,206
1,416
466
1,932
1,362
4,729
4,501
700
1,504
4,434
1,243
276
1,070
238
32
41
Other
banks
5,418
967
257
230
147
205
64
344
221
669
784
30
178
634
149
128
311
94
1
5
M - FEBRUARY 2015 (8/9)
February 2015. Provisional data
M.7 Total mortgages with changes, according to type of change and
type of building
Total
buildings
TOTAL
Andalucía
Aragón
Asturias, Principado de
Balears, Illes
Canarias
Cantabria
Castilla y León
Castilla - La Mancha
Cataluña
Comunitat Valenciana
Extremadura
Galicia
Madrid, Comunidad de
Murcia, Región de
Navarra, Comunidad Foral de
País Vasco
Rioja, La
Ceuta
Melilla
18,582
3,918
308
289
362
441
77
703
821
2,930
2,681
250
970
3,794
593
104
240
86
8
7
Type of change
Type of building
Novation
Subrogations Subrogations Rustic
Urban
Debtor
Creditor
buildings buildings
15,105
3,214
252
252
317
322
69
623
633
2,445
2,115
212
945
2,820
525
98
169
85
8
1
For further information see INEbase – www.ine.es/en/
552
161
13
23
3
13
1
15
6
57
180
1
9
14
24
6
25
1
0
0
2,925
543
43
14
42
106
7
65
182
428
386
37
16
960
44
0
46
0
0
6
861
261
27
20
34
20
5
105
65
19
168
13
24
12
77
0
5
6
0
0
17,721
3,657
281
269
328
421
72
598
756
2,911
2,513
237
946
3,782
516
104
235
80
8
7
Dwellings
10,837
2,044
169
149
238
306
58
357
442
1,992
1,546
112
695
2,094
353
75
134
62
6
5
All press releases at: www.ine.es/en/prensa/prensa_en.htm
Press Office: Telephone numbers: 91 583 93 63 / 94 08 – Fax: 91 583 90 87 – gprensa@ine.es
Information Area: Telephone number: 91 583 91 00 – Fax: 91 583 91 58 – www.ine.es/infoine/?L=1
M - FEBRUARY 2015 (9/9)