Spanish mortgage lending continued to surge this summer, as the Euribor remains at an unprecedented low.
The number of new mortgages signed in the Property Register in June 2016 jumped 15.5 per cent year-on-year, according to the National Institute of Statistics. 25,274 mortgages were registered in the year to June, taking the growth in new mortgage signings to 25 months in a row.
The figures arrive as a string of measures indicate a positive recovery in Spain’s real estate market, with sales up and prices forecast by one of the country’s biggest banks to climb in the next year. That positive trend occurs against an unprecedented backdrop in the European mortgage industry, with 12-month Euribor rates, which are used to calculate mortgage repayments in Spain and other countries, remaining negative for eight months in a row.
