Mortgage statistics may change in the medium term
The data of the Mortgage Statistics published today by the INE corresponding to the past month of August pick up a rise of 29.1% in the concession of mortgages on houses with respect to the same month of the previous year.
“The consolidation of mortgage financing has been one of the key elements of the recovery of the sector. But since the beginning of the year, the different statistics that measure the health of the sector have intensified their rhythm and confirm the good moment the sector is experiencing, “explains Beatriz Toribio, head of Studies of fotocasa.
“We hope that this recovery that the market is experiencing will not be truncated by the political crisis we are witnessing in Catalonia,” he adds.
Toribio remembers that, despite these bulky increases in mortgage lending, we are still far from the levels of the boom years, and he insists that those who are about to sign a mortgage should take into account that “the mortgage context can change in the medium term, since the current level of low interest rates and historical lows of the Euribor will not be permanent, as evidenced by the fact that the ECB will reduce its stimulus policy starting in January. “
In addition to the upward trend in rates suggests that it will be necessary to see “how the new mortgage law is and what conditions it has for banking, because if the entities consider that they will obtain less benefits with the sale of products mortgages, the granting of credit may suffer, “he concludes.