The sale of housing reached levels of the years of the real estate bubble this February with 59,682 operations, which meant an interannual increase of 13.9%. This rebound is supported, among other things, on better mortgage conditions In an environment of the official types of interest, as reflected in the INE data. The number of new housing mortgages increased 4.3% in the second month of the year compared to February 2024, registering a total of 39,084 new loanswith an average interest rate that, for the first time in almost two years, fell from 3%, according to the provisional data of the February 2025 mortgage statistics of the National Statistics Institute (INE).
For the CEO of RN your mortgage solution the high housing sale data «not only confirm the Buyer appetite of the Spaniards, but that they demonstrate that the market has managed to absorb part of the pressure that comes from the rent ». Ensures that «Many homes have migrated rent for sale», What has contained part of the tension that could have been generated in sales prices and, together with good credit conditions, has led to the demand for new mortgages.
In line with the statements of Gulias, the figures disseminated by the INE on new mortgage loans constituted in February and registered in the corresponding Property Registry refer to a total of 39,084 new mortgages on housing, the Greater figure reached in fourteen years for a month of February. That is, in the second month of the year, the broadcast of mortgage loans on this kind of property reached increased 4.3% Regarding February 2024, 2.7% more than in the previous month. With this, the accumulated rate corresponding to the first two months of 2025 records a 7.5% rise in transactions linked to housing mortgages.
The average amount of these operations, in line with the increase in housing prices, was also increased, raising 16.2% at an annual rate until it is located in 157,018 euros. In parallel, the capital provided in the mortgage loans on housing combines the amount of 6,136,900 euroswhich represents an increase in annual rate of 21.2 in February 2025.
The average interest rate falls below below 3%, after 21 consecutive months exceeding this quota. Specifically, in the new mortgages on homes the Average interest rate descended up to 2.96%. It is the first fall below 3% in two years, reaching its lowest rate since February 2023 when it reached 2.86%.
This fall in the average interest rate explains that the Mortgage firm adds eight consecutive months of increases. In this sense, the number of new mortgage loans on housing increased so much compared to January, when the average interest rate touched 3%when registering 3.08%, as of February of the previous year, when it stood at 3.34%.
On the other hand, the average term of this type of loans was 25 years and 35.4% of housing mortgages were constituted at a variable type, while 64.6% did it at a fixed type. Initially, for the former the average interest rate was 2.73% and 3.10% for the latter.
Related to interest rates, 75.1% of 14,042 mortgages with changes in their conditions They were due to modifications in this variable. In February, the total number of mortgages increased by 4.5% with changes in their conditions registered in property records. Novations – modifications with the same financial entity – decreased by 12.9% and subrogations to the creditor – entity change – 44.8% in annual rate. On the contrary, subrogations to the debtor – the headline came – increased 677.1% in interannual terms.
The communities with the highest annual variation rates in the number of mortgages on homes in February were Cantabria (55.6%), La Rioja (53.3%) and the Basque Country (39.7%). On the opposite side, the Canary Islands (-38.7%), Navarra Foral Community (-34.3%) and Illes Balears and Community of Madrid (-20.0%both) presented the lower annual rates.
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