The signing of new mortgages for the purchase of a home decreased at a national level in November 2023 by 19.1% compared to the previous year to 32,645 transactions, chaining ten consecutive months of decline, a drop that in the Canary Islands, where 1,337 were registered, was 38.2%, the fourth highest in the country, as reported this Thursday by the INE.
In November, the capital lent in the archipelago for the constitution of mortgages on homes amounted to 117.16 million euros, 38.9% lower than that produced twelve months earlier.
In the Canary Islands, the signing of mortgages registered in November 600 fewer transactions than those recorded in October of last year.
Despite this drop in the interannual rate, the signing of mortgages for housing shows, at the national level, an increase of 2.3% if compared to the previous month, October. However, since the beginning of the year it has accumulated a cut of 17.8% after the impact of successive interest rate hikes, which have increased financing and contracted the sale of homes.
The average interest rate on new mortgages on homes stood in November at 3.27% and the average term was 24 years. More than half of the mortgages (53.2%) were signed at a fixed rate and the remaining 46.8% at a variable rate.
