28 July 2015 Mortgage Statistics (M) May 2015. Provisional data The total number of mortgages constituted on dwellings recorded in the land registries stands at 19,732 in April, 10.9% higher than that of the same month of 2014 The average value of the mortgages constituted on dwellings increases 4.4% in the annual rate, standing at 103,922 euros During the month of May 2015, the average amount of mortgage constitutions recorded in the land registries (from previous public deeds) stood at 125,802 euros, 7.3% more than that of the same month of 2014. The number of mortgages constituted on dwellings was 19,732, that is, 10.9% higher than that registered in May 2014. The average value was 103,922 euros, showing an annual increase of 4.4%. Jul-14 Aug-14 99.9 104.8 104.9 105.8 109.5 102.0 100.7 103.9 May-15 Jun-14 107.8 Apr-15 102.4 Mar-15 100.5 Jan-15 99.4 Dec-14 99.5 Nov-14 100.1 May-14 120 Apr-14 Average amount mortaged on dwellings in thousands of euros 80 40 Feb-15 Oct-14 Sep-14 0 The value of the mortgages constituted on urban properties reached 3,526.8 million euros, 15.3% higher than that reached in May 2014. On dwellings, the capital loaned reached 2,050.6 million euros, indicating an annual increase of 15.8%. Mortgages constituted. May 2015 Total Total properties Num ber of mortgaged properties Capital loaned (thousands of euros) Average amount (euros) Rustic properties Num ber of mortgaged properties Capital loaned (thousands of euros) Average amount (euros) Urban properties Num ber of mortgaged properties Capital loaned (thousands of euros) Average amount (euros) Dwellings Num ber of mortgaged properties Capital loaned (thousands of euros) Average amount (euros) Variation rate Monthly Annual Interannual accum ulated 29,712 3,737,826 125,802 3.5 2.6 -0.8 7.3 15.1 7.3 15.5 6.9 -7.5 1,605 211,020 131,477 4.8 -33.8 -36.8 2.6 11.9 9.1 3.2 19.6 15.9 28,107 3,526,806 125,478 3.4 6.1 2.6 7.6 15.3 7.2 16.3 6.1 -8.7 19,732 2,050,580 103,922 4.6 8.0 3.2 10.9 15.8 4.4 20.1 24.0 3.3 M – MAY 2015 (1/9) Mortgages constituted according to the nature of the property According to the nature of the property, mortgages constituted on dwellings concentrated 54.9% of the total capital loaned in May. Distribution of the capital loaned for mortgages according to the nature of the property (%) 70 60 54.9 50 35.1 40 30 20 10 5.7 4.3 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 May and April for the last five years. In 2015, the monthly rate registered an increase of 4.6%, the lowest of the period. Evolution of the monthly rate of de number of mortgages constituted for the dwellings (May variation as compared with April of the same year) 25 19.7 21.4 20 14.6 15 10 5.1 4.6 5 0 2011 2012 2013 2014 2015 Regarding the capital loaned for mortgages constituted on dwellings, the monthly rate of 2015 was 8.0%. Evolution of the monthly rate of the capital lent of mortgages constituted for the dwellings (May variation as compared with April of the same year) 25 24.0 22.1 20 14.0 15 10 8.0 7.4 5 0 2011 2012 2013 2014 2015 M – MAY 2015 (2/9) Mortgage interest rates 92.8% of the mortgages constituted in May used a variable interest rate, as compared to 7.2% using a fixed rate. Euribor was the most used reference interest rate in constituting mortgages with a variable interest rate, specifically in 92.2% of new contracts. The average interest rate for the total properties was 3.38% and the average term was 21 years. The average interest rate for mortgages constituted on dwellings was 3.40%, that is, 11.0% less than that registered in May 2014. Average interes rate on dwellings 3.49 3.50 3.29 3.35 3.36 3.29 3.40 May-15 3.60 Apr-15 3.59 Mar-15 3.76 Feb-15 3.90 Jan-15 3.88 Dec-14 3.82 Nov-14 3.97 4.00 Oct-14 5.00 3.00 2.00 1.00 Sep-14 Aug-14 Jul-14 Jun-14 May-14 Apr-14 0.00 Mortgages with registration changes In May, the total number of mortgages with changes in their conditions recorded in the land registries stood at 15,409, 22.7% less than the figure recorded last year. On dwellings, the number of mortgages with modified conditions decreased 28.0%. Considering the type of modification of conditions, in May 12,192 novations (or modifications produced within the same financial institution) were produced, with a decrease of 22.1%, as compared to May 2014. The number of transactions that changed institutions (creditor subrogations) decreased 16.7%, and the number of mortgages that changed the holder of the mortgaged property (debtor subrogations) decreased by 48.1%. Mortgages with registration changes. May 2015 Total Total mortgages with changes Novations Subrogations Debtor Subrogations Creditor Variation rate Inter-monthly 15,409 12,192 581 2,636 Interannual 4.4 1.9 0.5 18.7 -22.7 -22.1 -48.1 -16.7 Interannual accum ulated -18.4 -18.5 -31.6 -14.7 Mortgages with changes in interest rate conditions Of the 15,409 mortgages with changes in their conditions recorded in the land registries, 35.4% were due to changes in the interest rates. M – MAY 2015 (3/9) After the change in conditions, the percentage of mortgages at a fixed interest rate decreased from 6.8% to 3.2%, and that of mortgages at a variable interest rate increased from 92.3% to 96.1%. Euribor was the rate to which the greatest percentage of mortgages at a variable rate was referenced, both before (77.1%) and after the change (86.5%). After the changing of conditions, the average interest rate of loans in mortgages at a fixed rate increased by 0.07 points, and that of mortgages at a variable rate did so by 1.38 points. Mortgages with registration changes in interest rates conditions. May 2015 Interest rate modality Total interest rate changes Fixed Variable -Euribor Without interest Before the change in No. of Original mortgages interest rate structure % 5,462 100.0 370 6.8 5,041 92.3 4,212 77.1 51 0.9 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 5,462 100.0 4.77 174 3.2 4.84 4.32 5,252 96.1 2.94 4.21 4,727 86.5 2.82 36 0.7 Results by Autonomous Community The Autonomous Communities with the highest number of mortgages constituted on dwellings in May were Andalucía (3,717), Comunidad de Madrid (3,378) and Cataluña (3,085). The Autonomous Communities that registered the greatest annual variation rates were La Rioja (43.4%), Comunidad Foral de Navarra (31.8%) and Galicia (26.8%). The Autonomous Communities with the greatest capital loaned for mortgages constituted on dwellings were Comunidad de Madrid (496.3 million euros), Cataluña (371.4 million) and Andalucía (323.4 million). Mortgages constituted on dwellings by Community. May 2015 Number Variation rate Monthly TOTAL Andalucía Aragón Asturias, Principado de Balears, Illes Canarias Cantabria Castilla - La Mancha Castilla y León Cataluña Comunitat Valenciana Extrem adura Galicia Madrid, Comunidad de Murcia, Región de Navarra, Com unidad Foral de País Vasco Rioja, La 19,732 3,717 656 374 542 770 214 869 643 3,085 2,158 352 837 3,378 616 344 962 152 4.6 7.7 23.5 -15.0 -12.3 -0.5 42.7 15.6 5.8 -4.1 13.6 1.7 2.4 6.9 18.5 9.2 -4.4 26.7 Annual 10.9 14.7 6.1 -1.8 -1.3 3.9 3.9 0.2 7.5 8.7 0.9 16.9 26.8 25.6 14.1 31.8 -1.7 43.4 Capital loaned Variation rate (thousands of euros) Monthly Annual 2,050,580 8.0 15.8 323,358 10.2 18.6 63,142 40.3 12.8 29,973 -51.4 -13.8 69,774 -4.1 16.1 65,739 -4.9 25.7 21,325 14.7 3.0 72,773 22.6 0.6 47,814 6.7 9.7 371,434 -1.5 15.5 165,844 17.9 -0.7 23,985 -2.3 17.0 72,908 2.5 30.5 496,303 25.3 26.1 50,998 35.3 28.6 33,411 2.9 38.8 121,146 1.8 5.9 13,046 28.6 55.2 M – MAY 2015 (4/9) The Autonomous Communities presenting the highest monthly rates in the number of mortgages constituted on dwellings were Cantabria (42.7%), La Rioja (26.7%) and Aragón (23.5%). In turn, the Autonomous Community registering the greatest decrease in the monthly variation rate were Principado de Asturias (−15.0%), Illes Balears (−12.3%) and País Vasco (−4.4%). Monthly variation of the number of mortgages constituted on dwellings. May 2015 Cantabria 42.7 Rioja, La 26.7 Aragón 23.5 Murcia, Región de 18.5 Castilla y León 15.6 Comunitat Valenciana 13.6 Navarra, Comunidad Foral de 9.2 Andalucía 7.7 Madrid, Comunidad de 6.9 Castilla - La Mancha 5.8 TOTAL 4.6 Galicia 2.4 Extremadura 1.7 Canarias -0.5 Cataluña -4.1 País Vasco -4.4 Balears, Illes Asturias, Principado de -12.3 -15.0 M – MAY 2015 (5/9) Mortgages Statistics May 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 29,712 5,259 985 579 885 1,640 412 1,748 1,052 4,394 3,034 738 1,308 4,564 1,011 440 1,340 237 43 43 3,737,826 562,300 103,427 48,045 133,975 172,126 89,508 132,366 102,421 833,150 238,807 65,536 128,053 721,332 80,348 59,136 235,608 20,917 4,595 6,176 Rustic buildings Number Capital 1,605 403 114 52 54 42 9 194 148 94 152 113 61 8 119 10 26 5 1 0 211,020 63,292 11,562 4,048 9,928 5,042 704 13,059 18,964 11,825 12,032 13,990 18,669 4,628 12,332 663 9,810 410 62 0 Urban buildings Number Capital 28,107 4,856 871 527 831 1,598 403 1,554 904 4,300 2,882 625 1,247 4,556 892 430 1,314 232 42 43 3,526,806 499,008 91,865 43,997 124,047 167,084 88,804 119,307 83,457 821,325 226,775 51,546 109,384 716,704 68,016 58,473 225,798 20,507 4,533 6,176 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 28,107 4,856 871 527 831 1,598 403 1,554 904 4,300 2,882 625 1,247 4,556 892 430 1,314 232 42 43 3,526,806 499,008 91,865 43,997 124,047 167,084 88,804 119,307 83,457 821,325 226,775 51,546 109,384 716,704 68,016 58,473 225,798 20,507 4,533 6,176 Dwellings Number 19,732 3,717 656 374 542 770 214 869 643 3,085 2,158 352 837 3,378 616 344 962 152 31 32 Capital 2,050,580 323,358 63,142 29,973 69,774 65,739 21,325 72,773 47,814 371,434 165,844 23,985 72,908 496,303 50,998 33,411 121,146 13,046 3,643 3,964 Lots Number 633 112 12 6 7 49 1 58 26 73 51 155 11 19 18 12 16 7 0 0 Capital 162,197 21,034 11,557 759 728 6,175 45 7,387 1,835 48,697 11,292 10,946 1,356 7,801 1,164 13,367 16,378 1,676 0 0 Other urban land Number Capital 7,742 1,027 203 147 282 779 188 627 235 1,142 673 118 399 1,159 258 74 336 73 11 11 1,314,029 154,616 17,166 13,265 53,545 95,170 67,434 39,147 33,808 401,194 49,639 16,615 35,120 212,600 15,854 11,695 88,274 5,785 890 2,212 M - MAY 2015 (6/9) May 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 1,605 403 114 52 54 42 9 194 148 94 152 113 61 8 119 10 26 5 1 0 211,020 63,292 11,562 4,048 9,928 5,042 704 13,059 18,964 11,825 12,032 13,990 18,669 4,628 12,332 663 9,810 410 62 0 Banks Number 945 234 62 33 44 29 9 74 70 57 81 93 57 4 75 1 21 0 1 0 Capital 142,550 42,147 6,663 2,330 8,572 3,255 704 7,228 9,607 5,256 7,340 11,818 17,276 1,318 9,990 73 8,911 0 62 0 Other banks Number Capital 660 169 52 19 10 13 0 120 78 37 71 20 4 4 44 9 5 5 0 0 68,470 21,145 4,899 1,718 1,356 1,787 0 5,831 9,357 6,569 4,692 2,172 1,393 3,310 2,342 590 899 410 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 28,107 4,856 871 527 831 1,598 403 1,554 904 4,300 2,882 625 1,247 4,556 892 430 1,314 232 42 43 3,526,806 499,008 91,865 43,997 124,047 167,084 88,804 119,307 83,457 821,325 226,775 51,546 109,384 716,704 68,016 58,473 225,798 20,507 4,533 6,176 Banks Number 24,433 4,326 722 387 780 1,433 373 1,278 697 3,876 2,429 462 1,184 4,207 726 291 1,006 186 38 32 Capital 3,061,656 452,693 74,210 33,821 115,833 148,575 86,275 97,328 68,959 711,020 183,951 35,402 103,354 655,146 56,502 33,759 180,509 15,621 4,303 4,395 Other banks Number Capital 3,674 530 149 140 51 165 30 276 207 424 453 163 63 349 166 139 308 46 4 11 465,150 46,315 17,655 10,176 8,214 18,509 2,529 21,979 14,498 110,305 42,824 16,144 6,030 61,558 11,514 24,714 45,289 4,886 230 1,781 M - MAY 2015 (7/9) May 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 39,966 8,551 991 663 1,054 2,303 458 2,079 1,710 5,071 6,218 764 1,588 5,103 1,226 457 1,252 385 42 51 1,566 418 91 25 48 70 15 121 129 75 267 82 67 15 90 11 29 11 1 1 Dwellings Lots 24,930 5,291 543 390 616 1,192 285 1,227 1,146 3,444 4,039 448 919 3,236 822 299 745 223 20 45 Other urban land 1,354 340 20 7 95 39 10 96 95 185 108 102 23 155 19 24 24 11 0 1 12,116 2,502 337 241 295 1,002 148 635 340 1,367 1,804 132 579 1,697 295 123 454 140 21 4 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 34,429 7,218 827 501 920 2,065 407 1,698 1,533 4,412 5,437 721 1,469 4,483 1,076 338 973 272 33 46 Rustic buildings Banks Other banks 5,537 1,333 164 162 134 238 51 381 177 659 781 43 119 620 150 119 279 113 9 5 1,134 280 76 21 32 57 8 56 101 61 215 70 51 12 61 4 22 5 1 1 Urban buildings Banks Other banks 432 138 15 4 16 13 7 65 28 14 52 12 16 3 29 7 7 6 0 0 33,295 6,938 751 480 888 2,008 399 1,642 1,432 4,351 5,222 651 1,418 4,471 1,015 334 951 267 32 45 Other banks 5,105 1,195 149 158 118 225 44 316 149 645 729 31 103 617 121 112 272 107 9 5 M - MAY 2015 (8/9) May 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 15,409 3,559 392 219 356 1,393 178 768 752 1,836 2,228 126 451 1,838 477 230 422 170 9 5 Type of change Type of building Novation Subrogations Subrogations Rustic Urban Debtor Creditor buildings buildings 12,192 3,142 305 192 343 320 165 592 650 1,415 1,719 109 404 1,665 428 219 354 161 9 0 For further information see INEbase – www.ine.es/en/ 581 117 38 7 2 13 0 34 10 65 189 3 14 21 13 8 43 2 0 2 2,636 300 49 20 11 1,060 13 142 92 356 320 14 33 152 36 3 25 7 0 3 1,061 215 11 49 19 18 3 102 20 25 349 21 25 5 36 1 138 24 0 0 14,348 3,344 381 170 337 1,375 175 666 732 1,811 1,879 105 426 1,833 441 229 284 146 9 5 Dwellings 8,707 2,010 218 103 165 814 117 361 430 1,329 1,199 84 239 1,009 322 45 150 100 7 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 - MAY 2015 (9/9)