Mortgages in Spain are up 16.8 pct year-on-year in October – Investing.com Spain

MADRID (Reuters) – The mortgages on housing in Spain recorded in the month of October were up 16.8 per cent compared with the same month of the previous year, according to data from the National Statistics Institute (INE), in a new sign of the reactivation of the real estate market.

The total number of underwritten mortgage on homes during that month was 22.581, with an average amount of 110.035 euros, which implies a decrease of the average price of these mortgages to a 1.1 percent year-on-year.

The capital loaned in mortgages for the purchase of homes totaled 2.485 million euros, that is to say, an increase of 15.6 percent compared to October 2015.

The data of housing mortgage loans is one of the barometers of the Spanish real estate sector, which seems to emerge after a long crisis that began with the bursting of the bubble in prices in 2008 and was particularly hard until 2013.

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