Mortgages on homes signed in Galicia grew by 4.4% in February, although the monthly variation fell by 26%

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Mortgages on homes signed in Galicia grew by 4.4% in February, although the monthly variation fell by 26%





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According to the INE report, in February mortgages were constituted in Galicia on 1,584 farms (worth more than 189 million euros), of which 49 were rustic farms and 1,535 were urban farms. Within urban farms, the number of mortgages on homes was 1,035, and the amount of the capital loaned was 99.5 million euros, 17.5 percent less than January (although it represents 3.1 percent more than a year ago).

Likewise, mortgages were constituted on 7 plots (with a borrowed capital of 9.5 million euros) and on 493 other farms of an urban nature, without housing (worth 74.5 million euros).

The INE has also reported that in February, 1,782 mortgages were registered in Galicia, of which 1,138 corresponded to homes; 80 to rustic farms; 43 to lots; and 521 to other urban farms.

Finally, registry changes occurred in 200 farms, of which 168 were novations and 32 were subrogations (creditor or debtor). More than half of the changes were registered with respect to housing.

DETAILS OF SPAIN

The number of mortgages constituted in Spain on homes registered in the property registers stood at 36,050 last February, a figure 16.1% higher than that of the same month of 2019, as reported on Wednesday by the National Institute of Statistics (INE).

With the year-on-year advance experienced in the second month of the year, prior to the coronavirus crisis, the home mortgage firm chained three consecutive months of promotions after it shot up 43% in December and rose 6.1% in January .

According to data released by the INE, the average amount of home mortgages increased by 42% compared to February 2019, to 176,206 euros, its highest figure since the beginning of the series, in 2003, while the capital Borrowing rose 64.8% in the interannual rate, to 6,352 million euros.

In monthly terms (February over January), the number of mortgages on homes fell by 8.3%, while the capital loaned for this type of mortgages shot up by 40.9%, its biggest increase in a month of February in al minus five years.

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