The National Institute of Statistics (INE) has published this Monday the data corresponding to the mortgage statistics for the month of January 2025. According to the report, the number of mortgages constituted on homes increased by 11% compared to the same month of the previous year, reaching a total of 38,058 operations.
The percentage is the same regarding the increase in sales, also by 11%.
This figure marks the highest level in a month of January in the last five years and confirms the continuity of the upward trend in the mortgage sector, according to the company RN Tu Solución Hipotecaria.
Meanwhile, in the same period, the number of mortgages in Lanzarote, Fuerteventura, and Gran Canaria decreased by 6.79% year-on-year in January. If 957 mortgages were signed in the province of Las Palmas in the first month of 2024, last January there were 892.
The number of sales in the province fell by 5.7% between January 2024 and the same month of 2025, although at the Canary Islands level it increased by 22.7%, due to the pull of Tenerife and chained its seventh consecutive increase, with a total of 60,650 transactions, which was the highest figure in a month of January since 2008.
Regarding financial conditions, the average interest rate for mortgages on homes stood at 3.08%, decreasing from the 3.25% registered at the end of 2024. This level represents the lowest rate since April 2023, although it is still part of a prolonged period of interest rates above 3%, accumulating 21 consecutive months in this range.
During the first month of the year, 35.8% of mortgages on homes were constituted at a variable rate, with an initial average interest rate of 2.94%, while 64.2% were made at a fixed rate, with an average interest rate of 3.17%.
The good situation of the market favored that the average amount of mortgages formalized in January 2025 increased by 11.9% year-on-year, standing at 152,233 euros. In parallel, the total capital lent in the month reached 5,793.6 million euros, with an increase of 24.3% compared to January 2024.
The positive data coincides with the statistics on housing sales published last week, in which Spain registered a record figure, increasing by 11% compared to the previous year, with a total of 60,650 transactions, the highest figure in a month of January since 2008.
