Mortgages on homes rose by 2.3% in August and the average interest rate reached 3.08%, its highest level since January 2025. The average loan amount was €181,285.
Mortgages on homes increased by 2.3% year-on-year in August, reaching 33,841 transactions, according to Líder Actual based on data from the National Institute of Statistics (INE). This is the highest figure for an August since 2022.
The average loan amount rose by 7.7%, to €181,285. The average interest rate stood at 3.08%, its highest level since January 2025. Fixed-rate loans had an initial interest of 3.16% and variable rates of 2.95%, compared to 2.85% for fixed a year earlier.
64.1% of the mortgages signed in August were fixed-rate, compared to 35.9% variable. A year ago, fixed represented 59.4%. The average repayment term was 26 years, while the Bank of Spain estimated the average term for new loans in 2025 at 25.4 years.
By region, Extremadura recorded the highest year-on-year growth, at 41.8%, followed by Navarra at 23.2%, and the Valencian Community at 11.8%. Conversely, La Rioja saw the largest decline, at 27.7%, followed by Balearic Islands at 21.8%, and Madrid at 5.8%.
Mortgages on properties totalled 42,991 transactions in August, a 0.5% increase, with a capital lent of €8.717 billion, a 9.6% increase compared to a year earlier.
Modifications of existing mortgages grew by 10.7%, reaching 8,909 loans. Debtor substitutions surged by 95%, to 3,950 transactions, while novations fell by 18.8%, to 4,524. 84% of the registered changes corresponded to interest rate modifications.
Property sales reached 49,319 transactions in August, a 3.4% increase compared to the same month in 2025. Used homes accounted for nearly 79% of transactions. Despite this progress, from January to August, sales have accumulated a decline of 2.3%, and compared to July, they fell by 19.7%.
Andalusia led property sales with 9,427 transactions, followed by Catalonia (8,407), the Valencian Community (7,571), and Madrid (5,119). Extremadura had the largest increase, at 32.1%, ahead of Cantabria (21.7%) and Murcia (12.6%).
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