New data on residential property mortgage agreements

According to data published by the National Statistics Institute, in January 2015, 20,913 mortgage agreements were entered into in Spain for residential property, which is almost 20% higher than the same period in January 2014. The National Statistics Institute has also stated in its press release that the average amount of mortgage credit for buying residential property grew in January 2015 to 1,056,772 euros, which is 4.3% higher than in January of the previous year. Furthermore, the average mortgage interest rate has dropped to 3.29%, which is 20% lower than in January 2014.