There are fewer and smaller mortgages in the Canary Islands

In April, the Canary Islands recorded the signing of 927 mortgages for the purchase of homes, 8.0% less than in the same month of 2022, as collateral for a total capital loaned of 108.62 million euros, 6.3% less, according to data published this Thursday by the National Institute of Statistics (INE).

In Spain as a whole, the signing of mortgages for the acquisition of housing decreased by 18.3% year-on-year last April and stood at 27,053 loans, the lowest figure since January 2021, with the most expensive average interest rate of the last six years, 3.09%.

According to figures from the National Institute of Statistics (INE), 61.3% of loans to acquire housing were granted at a fixed rate and 38.7% at a variable rate.

The capital loaned to buy housing stood at 3,704.8 million euros, which implies a year-on-year decrease of 21.6%, while the average amount of these mortgages decreased by 4.1% and stood at 136,945 euros.

Euribor is the most used reference in Spain for mortgages granted at a variable rate, both before the change (75.7%), and after (54.8%).

The communities with the highest number of mortgages constituted on homes in April were Andalusia (5,473), Catalonia (4,477) and the Community of Madrid (4,373).

Likewise, those in which more capital was loaned to constitute these mortgages were the same but in a different order: Madrid (882 million euros), Catalonia (697.8 million) and Andalusia (648.1 million).

The capital loaned fell in April in all the communities, led by La Rioja, with a decrease of 41.4%, while the smallest occurred in Aragon, with 1.0%.