Canary Islands was the autonomous community last June where the number of mortgages constituted on homes grew the most, with an increase of 31.4% compared to a year ago.
In Spain as a whole, this increase was 10.8%, with 45,907 mortgages constituted, the highest figure in a June since 2010.
After the Canary Islands, the largest increases were in Castilla–La Mancha (23.2%) and the Valencian Community (16.1%); on the contrary, those that showed the largest decreases were the Balearic Islands, where they were reduced by 10.4%, Cantabria (9.1%), and Galicia (7.3%).
According to the data published this Wednesday by the National Statistics Institute (INE), the average amount of mortgages on homes in June stood at 178,365 euros, its highest figure since records began and beating the record reached in May.
In the month of June, the average amount of mortgages on homes has been 6% higher than in the same month of 2025 and has grown by 9.8% in the accumulated first six months of 2026.
The average interest rate falls to 2.96%
For mortgages constituted on homes, the average interest rate was 2.96% in June, below the 2.98% in May (which exceeded the 2.97% reached in November 2025) and the average repayment term stood at 25 years.
38.3% of mortgages on homes were signed in June at a variable interest rate and 61.7% were closed at a fixed rate, with the latter now totaling ten months above 60%.
The average initial interest rate was 3.07% for mortgages on homes at a variable rate and 2.89% for those at a fixed rate.
The total number of mortgages on homes that experienced changes in their conditions registered in the property registries decreased by 19.1% in June on an annual basis.
Novations or modifications with the same financial entity were reduced by 25.3%; subrogations to the creditor, which is when the entity changes, by 15.4%; and to the debtor, when the holder changes, by 8.4%.
According to the INE, 83.1% of the 10,261 mortgages with changes in their conditions were due to changes in interest rates.
After the year-on-year fall in the number of mortgages constituted in May, the first after 22 months of increases, the mortgage market has recovered its momentum in June, according to the director of Studies at the real estate portal pisos.com, Ferran Font, who considers that the data confirms that the demand for financing for home purchases remains strong.
Font considers that the growth in the average mortgage amount is due to the increase in housing prices and the need to resort to greater financing to buy a home.
Ferran Font dismisses the possibility that mortgage interest rates may return to the extraordinarily low levels of previous years, although their stabilization is contributing to maintaining mortgage activity.
However, the general director of Idealista/Hipotecas, Juan Villén, explains that the growth in mortgages, despite the slowdown in home sales, is due to an increase in people who need a mortgage to access housing.
The CEO of RN Tu Solución Hipotecaria, Ricardo Gulias, believes that the growth in mortgages in June reflects that there is a real demand for housing that remains active and responds when it finds financing opportunities.
Gulias anticipates a scenario of stability for the coming months, and that solid employment, pent-up housing demand, and competition among financial institutions will sustain mortgage activity in the second half of the year.
The director of Studies at the real estate portal Fotocasa, María Matos, explains that the June data does not reflect the change in monetary and financial conditions in recent months, and believes that the effect of the new interest rate scenario will begin to be seen in the coming months.
Thus, she predicts that the mortgage market will slow down as the new financial conditions are fully reflected in operations.
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