Spanish mortgage rates steady in January

euribor-annualised-change-jan-2014

All the latest Euribor and Spanish mortgage news for January 2014

Euribor (12 months) ended January with a monthly average of 0.562pc, up 3.5pc on December, but 2.3pc lower than the same month last year.

With Euribor almost the same as it was 12 months ago borrowers with annually resetting mortgages will see monthly repayments fall by a negligible amount, perhaps even less than one Euro.

Even though Euribor is still near record lows, a recent trend towards tightening shows signs of petering out.

Meanwhile, new lending keeps heading south, down an annualised 27.4pc in November, according to the latest data from the INE. There won’t be any recovery in the Spanish housing market until mortgage lending returns, so this is a key figure to watch.

BBVA, a bank, say part of the reason for the collapse in lending is a lack of demand, not just an unwillingness to lend on the part of banks.

Comments

comments

3 thoughts on “Spanish mortgage rates steady in January”

  1. GarySFBCN

    :”BBVA, a bank, say part of the reason for the collapse in lending is a lack of demand, not just an unwillingness to lend on the part of banks.”

    And a part of the lack of demand is that it is difficult to get a mortgage. Circular thinkspeak from BBVA.

  2. Mark Goodwin

    Mortgage liquidity has played a huge part in the lack of movement in the property market for overseas buyers. For many, 50% to 60% mortgages, or an outright refusal to the most credit worthy of buyers, made purchasing a property impossible.

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