28 April 2015 Mortgage Statistics (M) February 2015. Provisional data The total number of mortgages constituted on dwellings recorded in the land registries stands at 21,298 in February, 29.2% higher than that of the same month of 2014 The average value of the mortgages constituted on dwellings increases 6.1% in the annual rate, standing at 109,486 euros During the month of February 2015, the average amount of mortgage constitutions recorded in the land registries (from previous public deeds) stood at 120,017 euros, 17.2% less than that of the same month of 2014. The number of mortgages constituted on dwellings was 21,298, that is, 29.2% higher than that registered in February 2014. The average value was 109,486 euros, showing an annual increase of 6.1%. Average amount mortaged on dwellings in thousands of euros 120 101.4 103.2 102.4 100.4 99.2 98.6 100.9 102.4 107.8 99.9 104.8 104.9 105.8 109.5 80 40 Feb-15 Jan-15 Dec-14 Nov-14 Oct-14 Sep-14 Aug-14 Jul-14 Jun-14 May-14 Apr-14 Mar-14 Feb-14 Jan-14 0 The value of the mortgages constituted on urban properties reached 3,550.4 million euros, 0.6% less than that reached in February 2014. On dwellings, the capital loaned reached 2,331.8 million euros, indicating an annual increase of 37.1%. Mortgages constituted. February 2015 Total Total properties Number of mortgaged properties Capital loaned (thousands of euros) Average amount (euros) Rustic properties Number of mortgaged properties Capital loaned (thousands of euros) Average amount (euros) Urban properties Number of mortgaged properties Capital loaned (thousands of euros) Average amount (euros) Dwellings Number of mortgaged properties Capital loaned (thousands of euros) Average amount (euros) Variation rate Monthly Annual Interannual accumulated 31,473 3,777,288 120,017 -4.3 -3.0 1.4 22.2 1.2 -17.2 18.2 6.4 -10.0 1,653 226,938 137,289 17.3 3.0 -12.2 12.8 41.5 25.5 -5.2 -2.9 2.4 29,820 3,550,350 119,059 -5.3 -3.3 2.0 22.7 -0.6 -19.0 19.7 7.0 -10.6 21,298 2,331,831 109,486 1.8 5.4 3.5 29.2 37.1 6.1 24.5 31.0 5.2 M – FEBRUARY 2015 (1/9) Mortgages constituted according to the nature of the property According to the nature of the property, mortgages constituted on dwellings concentrated 61.7% of the total capital loaned in February. Distribution of the capital loaned for mortgages according to the nature of the property (%) 70 61.7 60 50 40 25.4 30 20 6.9 10 6.0 0 Dwellings Lands Other urban properties Rustic properties Monthly evolution of the mortgages constituted on dwellings In order to contribute to the analysis and interpretation of the data, the following chart shows the variation on the number of mortgages constituted on dwellings between the months of February and January for the last five years. In 2015, the monthly rate registered an increase of 1.8%, the highest increase of this period. Evolution of the monthly rate of de number of mortgages constituted for the dwellings (February variation as compared with January of the same year) 5 1.8 0.8 0 -5 -5.1 -5.5 2013 2014 -10 -9.9 2011 2012 2015 Regarding the capital loaned for mortgages constituted on dwellings, the monthly rate of 2015 was 5.4%, also the highest of the period. Evolution of the monthly rate of the capital lent of mortgages constituted for the dwellings (February variation as compared with January of the same year) 10 5 5.4 4.2 0 -5 -4.6 -3.8 2013 2014 -10 -11.2 -15 -20 2011 2012 2015 M – FEBRUARY 2015 (2/9) Mortgage interest rates 94.0% of the mortgages constituted in February used a variable interest rate, as compared to 6.0% using a fixed rate. Euribor was the most used reference interest rate in constituting mortgages with a variable interest rate, specifically in 89.9% of new contracts. The average interest rate for the total properties was 3.34% and the average term was 21 years. The average interest rate for mortgages constituted on dwellings was 3.35%, that is, 18.5% less than that registered in February 2014. 3.88 3.90 3.76 3.59 3.60 3.49 3.50 3.29 3.35 Feb-15 3.82 Jan-15 3.97 Dec-14 4.04 Nov-14 4.11 Oct-14 4.14 4.00 Sep-14 5.00 Aug-14 Average interes rate on dwellings 3.00 2.00 1.00 Jul-14 Jun-14 May-14 Apr-14 Mar-14 Feb-14 Jan-14 0.00 Mortgages with registration changes In February, the total number of mortgages with changes in their conditions recorded in the land registries stood at 18,582, 0.6% higher than the figure recorded last year. On dwellings, the number of mortgages with modified conditions decreased 3.0%. Considering the type of modification of conditions, in February 15,105 novations (or modifications produced within the same financial institution) were produced, with an increase of 0.9%, as compared to February 2014. The number of transactions that changed institutions (creditor subrogations) increased 12.1%, and the number of mortgages that changed the holder of the mortgaged property (debtor subrogations) decreased by 37.3%. Mortgages with registration changes. February 2015 Total Total mortgages with changes Novations Subrogations Debtor Subrogations Creditor Variation rate Inter-monthly 18,582 15,105 552 2,925 10.8 16.0 -19.7 -4.6 Interannual 0.6 0.9 -37.3 12.1 Interannual accum ulated -18.2 -17.6 -34.7 -16.7 Mortgages with changes in interest rate conditions Of the 18,582 mortgages with changes in their conditions recorded in the land registries, 46.1% were due to changes in the interest rates. M – FEBRUARY 2015 (3/9) After the change in conditions, the percentage of mortgages at a fixed interest rate decreased from 5.6% to 3.5%, and that of mortgages at a variable interest rate increased from 93.0% to 95.9%. Euribor was the rate to which the greatest percentage of mortgages at a variable rate was referenced, both before (78.6%) and after the change (86.7%). After the changing of conditions, the average interest rate of loans in mortgages at a fixed rate decreased by 0.89 points, and that of mortgages at a variable rate did so by 1.02 points. Mortgages with registration changes in interest rates conditions. February 2015 Interest rate modality Total interest rate changes Fixed Variable -Euribor Without interest Before the change in No. of Original mortgages interest rate structure % 8,573 100.0 479 5.6 7,969 93.0 6,737 78.6 125 1.4 interest rate Original average interest of loan After the change in interest rate No. of Final interest Final average mortgages rate structure interest of % loan 8,573 100.0 4.57 299 3.5 3.68 4.34 8,219 95.9 3.32 4.26 7,432 86.7 3.25 55 0.6 Results by Autonomous Community The Autonomous Communities with the highest number of mortgages constituted on dwellings in February were Comunidad de Madrid (4,066), Andalucía (4,032) and Cataluña (3,214). The Autonomous Communities that registered the greatest annual variation rates were Aragón (89.5%), País Vasco (59.5%) and Andalucía (42.9%). The Autonomous Communities with the greatest capital loaned for mortgages constituted on dwellings were Comunidad de Madrid (606.7 million euros), Cataluña (405.1 million) and Andalucía (376.8 million). Mortgages constituted on dwellings by Autonomous City and Community. February 2015 Num ber Variation rate Monthly TOTAL Andalucía Aragón Asturias , Principado de Balears, Illes Canarias Cantabria Castilla - La Mancha Castilla y León Cataluña Comunitat Valenciana Extremadura Galicia Madrid, Com unidad de Murcia, Región de Navarra, Comunidad Foral de País Vas co Rioja, La 21,298 4,032 688 326 628 598 221 801 683 3,214 2,256 304 787 4,066 566 276 1,668 126 1.8 6.3 15.6 -9.7 2.8 -60.8 25.6 -4.2 1.3 -12.3 8.6 -18.7 -4.8 29.2 -7.2 -15.6 53.9 -24.1 Annual 29.2 42.9 89.5 24.0 36.2 -21.7 25.6 15.4 25.3 32.4 29.3 1.7 42.3 20.4 23.9 -20.0 59.5 17.8 Capital loaned Variation rate (thous ands of euros ) Monthly Annual 2,331,831 5.4 376,777 9.2 64,967 16.2 27,944 -8.3 72,296 -13.7 49,376 -56.2 22,577 33.7 66,177 -19.5 51,319 -3.2 405,063 -5.6 181,993 11.2 21,637 -17.7 80,131 -4.4 606,695 23.8 45,446 -2.8 28,118 -19.4 214,281 57.0 9,787 -29.4 37.1 51.5 99.4 27.9 23.8 -6.9 39.8 8.3 18.6 43.4 34.1 1.2 69.0 28.5 39.8 -24.7 75.5 -5.5 M – FEBRUARY 2015 (4/9) The Autonomous Communities with the greatest monthly rates in the number of mortgages constituted on dwellings were País Vasco (53.9%), Comunidad de Madrid (29.2%) and Cantabria (25.6%). In turn, the only Autonomous Community registering a decrease in the monthly variation rate were Canarias (−60.8%), La Rioja (−24.1) and Extremadura (−18.7%). Monthly variation of the number of mortgages constituted on dwellings. February 2015 País Vasco 53.9 Madrid, Comunidad de 29.2 Cantabria 25.6 Aragón 15.6 Comunitat Valenciana 8.6 Andalucía 6.3 Balears, Illes 2.8 TOTAL 1.8 Castilla - La Mancha 1.3 Castilla y León -4.2 Galicia -4.8 Murcia, Región de -7.2 Asturias, Principado de -9.7 Cataluña -12.3 Navarra, Comunidad Foral de -15.6 Extremadura -18.7 Rioja, La Canarias -24.1 -60.8 M – FEBRUARY 2015 (5/9) Mortgages Statistics February 2015. Provisional data M.1 Total mortgaged rustic and urban buildings Capital in thousands of euros Total buildings Number Capital TOTAL Andalucía Aragón Asturias, Principado de Balears, Illes Canarias Cantabria Castilla y León Castilla - La Mancha Cataluña Comunitat Valenciana Extremadura Galicia Madrid, Comunidad de Murcia, Región de Navarra, Comunidad Foral de País Vasco Rioja, La Ceuta Melilla 31,473 5,975 1,000 539 938 983 370 1,427 1,207 4,535 3,282 541 1,362 5,543 972 409 2,083 217 36 54 3,777,288 584,010 97,171 58,091 134,386 112,585 30,729 128,466 108,427 594,526 275,493 51,275 128,495 943,041 84,970 63,152 343,987 18,019 12,391 8,074 Rustic buildings Number Capital 1,653 423 97 41 61 32 9 197 215 103 120 91 61 25 104 23 28 23 0 0 226,938 58,600 11,609 11,904 9,333 6,298 567 11,907 18,057 23,527 9,600 12,581 10,949 17,162 10,853 4,837 6,519 2,635 0 0 Urban buildings Number Capital 29,820 5,552 903 498 877 951 361 1,230 992 4,432 3,162 450 1,301 5,518 868 386 2,055 194 36 54 3,550,350 525,410 85,562 46,187 125,053 106,287 30,162 116,559 90,370 570,999 265,893 38,694 117,546 925,879 74,117 58,315 337,468 15,384 12,391 8,074 M.2 Urban buildings, according to type of building Capital in thousands of euros Urban buildings Number Capital TOTAL Andalucía Aragón Asturias, Principado de Balears, Illes Canarias Cantabria Castilla y León Castilla - La Mancha Cataluña Comunitat Valenciana Extremadura Galicia Madrid, Comunidad de Murcia, Región de Navarra, Comunidad Foral de País Vasco Rioja, La Ceuta Melilla 29,820 5,552 903 498 877 951 361 1,230 992 4,432 3,162 450 1,301 5,518 868 386 2,055 194 36 54 3,550,350 525,410 85,562 46,187 125,053 106,287 30,162 116,559 90,370 570,999 265,893 38,694 117,546 925,879 74,117 58,315 337,468 15,384 12,391 8,074 Dwellings Number 21,298 4,032 688 326 628 598 221 801 683 3,214 2,256 304 787 4,066 566 276 1,668 126 24 34 Capital 2,331,831 376,777 64,967 27,944 72,296 49,376 22,577 66,177 51,319 405,063 181,993 21,637 80,131 606,695 45,446 28,118 214,281 9,787 3,196 4,051 Lots Number 614 123 6 6 15 7 1 54 42 79 51 45 13 95 16 12 41 7 0 1 Other urban land Number Capital Capital 261,349 33,678 1,513 763 5,397 308 175 10,042 6,211 17,376 10,474 2,987 3,022 119,443 3,456 11,916 32,999 1,389 0 200 7,908 1,397 209 166 234 346 139 375 267 1,139 855 101 501 1,357 286 98 346 61 12 19 957,170 114,955 19,082 17,480 47,360 56,603 7,410 40,340 32,840 148,560 73,426 14,070 34,393 199,741 25,215 18,281 90,188 4,208 9,195 3,823 M - FEBRUARY 2015 (6/9) February 2015. Provisional data M.3 Rustic buildings, according to loaning bank Capital in thousands of euros Rustic buildings Number Capital TOTAL Andalucía Aragón Asturias, Principado de Balears, Illes Canarias Cantabria Castilla y León Castilla - La Mancha Cataluña Comunitat Valenciana Extremadura Galicia Madrid, Comunidad de Murcia, Región de Navarra, Comunidad Foral de País Vasco Rioja, La Ceuta Melilla 1,653 423 97 41 61 32 9 197 215 103 120 91 61 25 104 23 28 23 0 0 226,938 58,600 11,609 11,904 9,333 6,298 567 11,907 18,057 23,527 9,600 12,581 10,949 17,162 10,853 4,837 6,519 2,635 0 0 Banks Number 1,018 264 26 21 51 22 4 135 95 62 85 66 54 20 70 5 21 17 0 0 Capital 157,105 40,119 3,831 10,457 8,661 2,070 298 9,381 8,499 20,530 6,871 6,904 9,765 14,125 6,434 2,647 4,801 1,712 0 0 Other banks Number Capital 635 159 71 20 10 10 5 62 120 41 35 25 7 5 34 18 7 6 0 0 69,833 18,481 7,778 1,447 672 4,228 269 2,526 9,558 2,997 2,729 5,677 1,184 3,037 4,419 2,190 1,718 923 0 0 M.4 Urban buildings, according to loaning bank Capital in thousands of euros Urban buildings Number Capital TOTAL Andalucía Aragón Asturias, Principado de Balears, Illes Canarias Cantabria Castilla y León Castilla - La Mancha Cataluña Comunitat Valenciana Extremadura Galicia Madrid, Comunidad de Murcia, Región de Navarra, Comunidad Foral de País Vasco Rioja, La Ceuta Melilla 29,820 5,552 903 498 877 951 361 1,230 992 4,432 3,162 450 1,301 5,518 868 386 2,055 194 36 54 3,550,350 525,410 85,562 46,187 125,053 106,287 30,162 116,559 90,370 570,999 265,893 38,694 117,546 925,879 74,117 58,315 337,468 15,384 12,391 8,074 Banks Number 25,750 4,818 623 353 809 807 338 980 786 4,017 2,693 423 1,081 5,096 705 260 1,718 159 34 50 Capital 3,087,592 458,361 52,664 33,395 109,853 93,429 27,927 88,673 67,892 524,134 219,615 36,328 94,682 872,415 61,609 35,110 287,369 12,610 4,238 7,288 Other banks Number Capital 4,070 734 280 145 68 144 23 250 206 415 469 27 220 422 163 126 337 35 2 4 462,758 67,049 32,898 12,792 15,200 12,858 2,235 27,886 22,478 46,865 46,278 2,366 22,864 53,464 12,508 23,205 50,099 2,774 8,153 786 M - FEBRUARY 2015 (7/9) February 2015. Provisional data M.5 Total mortgages cancelled, according to type of building Total buildings TOTAL Andalucía Aragón Asturias, Principado de Balears, Illes Canarias Cantabria Castilla y León Castilla - La Mancha Cataluña Comunitat Valenciana Extremadura Galicia Madrid, Comunidad de Murcia, Región de Navarra, Comunidad Foral de País Vasco Rioja, La Ceuta Melilla Rustic buildings 40,322 8,199 1,080 813 1,415 1,672 543 2,423 1,715 5,481 5,481 832 1,786 5,108 1,521 413 1,394 367 33 46 1,713 474 88 35 62 51 13 147 132 83 196 102 104 40 129 9 13 35 0 0 Dwellings Lots 26,649 5,641 658 414 931 993 322 1,390 1,087 3,692 3,767 529 1,072 3,814 971 252 844 213 21 38 Other urban land 1,291 351 30 125 51 41 14 100 92 94 90 81 12 90 63 24 17 15 0 1 10,669 1,733 304 239 371 587 194 786 404 1,612 1,428 120 598 1,164 358 128 520 104 12 7 M.6 Total cancelled mortgages, according to type of building and loaning bank Total buildings Banks TOTAL Andalucía Aragón Asturias, Principado de Balears, Illes Canarias Cantabria Castilla y León Castilla - La Mancha Cataluña Comunitat Valenciana Extremadura Galicia Madrid, Comunidad de Murcia, Región de Navarra, Comunidad Foral de País Vasco Rioja, La Ceuta Melilla 34,469 7,041 800 571 1,257 1,460 478 2,043 1,476 4,782 4,659 776 1,601 4,470 1,357 278 1,080 267 32 41 Rustic buildings Banks Other banks 5,853 1,158 280 242 158 212 65 380 239 699 822 56 185 638 164 135 314 100 1 5 1,278 283 65 23 51 44 12 111 114 53 158 76 97 36 114 2 10 29 0 0 Urban buildings Banks Other banks 435 191 23 12 11 7 1 36 18 30 38 26 7 4 15 7 3 6 0 0 33,191 6,758 735 548 1,206 1,416 466 1,932 1,362 4,729 4,501 700 1,504 4,434 1,243 276 1,070 238 32 41 Other banks 5,418 967 257 230 147 205 64 344 221 669 784 30 178 634 149 128 311 94 1 5 M - FEBRUARY 2015 (8/9) February 2015. Provisional data M.7 Total mortgages with changes, according to type of change and type of building Total buildings TOTAL Andalucía Aragón Asturias, Principado de Balears, Illes Canarias Cantabria Castilla y León Castilla - La Mancha Cataluña Comunitat Valenciana Extremadura Galicia Madrid, Comunidad de Murcia, Región de Navarra, Comunidad Foral de País Vasco Rioja, La Ceuta Melilla 18,582 3,918 308 289 362 441 77 703 821 2,930 2,681 250 970 3,794 593 104 240 86 8 7 Type of change Type of building Novation Subrogations Subrogations Rustic Urban Debtor Creditor buildings buildings 15,105 3,214 252 252 317 322 69 623 633 2,445 2,115 212 945 2,820 525 98 169 85 8 1 For further information see INEbase – www.ine.es/en/ 552 161 13 23 3 13 1 15 6 57 180 1 9 14 24 6 25 1 0 0 2,925 543 43 14 42 106 7 65 182 428 386 37 16 960 44 0 46 0 0 6 861 261 27 20 34 20 5 105 65 19 168 13 24 12 77 0 5 6 0 0 17,721 3,657 281 269 328 421 72 598 756 2,911 2,513 237 946 3,782 516 104 235 80 8 7 Dwellings 10,837 2,044 169 149 238 306 58 357 442 1,992 1,546 112 695 2,094 353 75 134 62 6 5 All press releases at: www.ine.es/en/prensa/prensa_en.htm Press Office: Telephone numbers: 91 583 93 63 / 94 08 – Fax: 91 583 90 87 – [email protected] Information Area: Telephone number: 91 583 91 00 – Fax: 91 583 91 58 – www.ine.es/infoine/?L=1 M - FEBRUARY 2015 (9/9)