Spain's mortgage market reached its highest July level in 15 years, with 45,067 new home loans signed during the month, representing a 25% increase compared to the same period last year. According to data from the National Statistics Institute (INE), this marks the thirteenth consecutive month of growth in mortgage activity and the strongest July performance since 2010. The sustained upward trend reflects continued momentum in the country's housing finance sector despite some moderation in the annual growth rate.
The average interest rate for home mortgages fell to 2.94% in July, down from 2.99% in June and significantly lower than the 3.25% recorded a year earlier. This represents the sixth consecutive month with rates below 3% and the lowest level since May 2025. The combination of favorable financing conditions and stable 25-year average loan terms has made housing more accessible to buyers, contributing to the market's robust performance.
Regional variations showed widespread growth across Spain's autonomous communities, with Aragón leading at a 79.72% increase, followed by La Rioja (45.00%) and the Canary Islands (43.40%). Only Navarra experienced a decline, with mortgage signings falling 2.36%. The total capital loaned for home purchases reached €7.36 billion nationwide, with the average mortgage amount rising to €163,307, a 7.6% increase year-over-year.
The mortgage composition shifted further toward fixed-rate products, which accounted for 70.01% of all new loans, while variable-rate mortgages represented 29.9%. This preference for stability comes as the European Central Bank maintains a accommodative monetary policy stance. The data also showed 36 creditor subrogations and 302 debtor subrogations, along with 324 loan modifications through novation, indicating active portfolio management by both lenders and borrowers.
Pope León XIV presided over the canonization of seven new saints during a ceremony in St. Peter's Square on World Mission Sunday. The newly recognized saints include Ignacio Maloyan, an Armenian Catholic archbishop and martyr; Peter To Rot, the first saint from Papua New Guinea; Vincenza...
A Madrid court has initiated an investigation into former PSOE organizational secretary Santos Cerdán for alleged false testimony during a Senate hearing about the 'Koldo case.' The Investigating Court Number 24 of Madrid admitted a complaint filed by the organization Hazte Oír, finding...
FC Barcelona has released its latest financial results, revealing a complex picture of record-breaking commercial performance coupled with significant asset devaluations. The Catalan club reported extraordinary sponsorship and commercial revenue of €429 million for the previous fiscal year,...
Juan del Val, the winner of the 2025 Planeta Prize, has responded to the wave of criticism surrounding his recent literary award. The novelist and television collaborator secured Spain's most prestigious literary honor for his upcoming novel 'Vera, una historia de amor,' which comes with a €1...
The Sitges International Fantastic Film Festival of Catalonia 2025 opened its 58th edition on Thursday, October 9, with Julia Ducournau's 'Alpha' serving as the opening gala film. This year's festival, running through October 19, features a record-breaking program of 395 productions between...
