Here we will tell you what the situation is with new mortgages. According to data provided by the Bank of Spain, the number are going through of new mortgages stood at , million euros . This implies, without a doubt, a decrease of year-on-year. The outstanding balance has fallen for the eighth consecutive month. Continue reading the article to know more. Data from the Bank of Spain The Bank of Spain is a public law entity that performs the function of national central bank in the country . On the other hand, it is also assigned to supervise the Spanish banking system and other financial intermediaries operating in Spain. The main objective of the Bank of Spain is to achieve price stability and financial stability, thereby promoting stable economic growth. On the other hand, it contributes with its analysis to the formulation of other economic policies.
What are the data from the Bank of Spain on the signing of new mortgages?
The data on the volume of signing of new mortgages that were published by the Bank of Spain show that the mortgage market closed the month of March with the worst quarter recorded since the third quarter of To Australia Telegram Number Data be more exact, the new mortgages for the purchase of homes that were granted during the first quarter were , million euros . All this implies a decrease of if we compare it to the volume granted a year ago. The generation of new mortgages has not been able to offset the amortizations, which reached , million euros. This is why the outstanding balance at the end of March was , million euros. This means that there is a net decrease in the Spanish mortgage portfolio of , million euros compared to the , million in the month of December.
What is the mortgage outstanding balance?
When we talk about outstanding balance we refer to the result of subtracting the repayments of already complet. Mortgages from the amount of new mortgages grant . In other words, those that have already been paid. The outstanding balance of mortgages in Spain has been in contraction for eight months. Reaching its worst level since February in March. On the Russia Phone Number List other hand, the portfolio is still far from the more than billion that it reach in. In framework of the financial crisis and the real estate bubble of those years. The month of March close with new mortgages worth , million , which implies an improvement of if. We compare it with the previous month , which is , million more in absolute terms. Compar to March , the decrease was . By maturity period in March , the majority of operations, were sign with a maturity. Period greater than years, which is equivalent to , million euros. On the other hand, mortgage loans that were grant with maturities between and years stood at , million euros, which is of the total.
