According to the figures by the National Statistics Institute or INE, it was seen that there was a drop in the value of the mortgages on an average. In the month of February, there was a decrease of around 12.5% on the value of the mortgages, in comparison to this period in the last year (2011). Again, in comparison to these, there was seen an increase in the number of mortgages which had changed conditions. These types of mortgage were seen to have increased by 4.8%.
Spanish real estate mortgages
During the month of February, the average amount of mortgage constitutions recorded in the land registries stood at 112,179 euros, a figure 12.5% lower than the same month the previous year and 8.8% lower than that recorded in January 2012.
With regards to the mortgages which are required for mainly the homes that are for dwelling purposes , the average amount on these were seen to be 104,868 euros. This is 14.6% less than what it was in February of 2011. It is 2.2% less than the amount which was registered in the month of January of 2012. On the other hand, the value of mortgages which constitutes the urban properties was seen to be 4,615 million euros in the month of February. This is supposed to indicate that there was an inter-annual reduction of 50.1%. With regards to the dwellings, the capital loans were said to have exceeded 2,770 million euros, which is quite a considerable 54.8% less.
On an average, the interest rate of the mortgages in the month of February 2012 was seen to be 4.35%. This is said to be indicating a 17.3% increase with regards to the inter-annual rate of the mortgages. This also indicates a reduction of 1.6% in comparison to that of January 2012. The interest rate on an average with regards to the mortgage loans of Savings Bank was around 4.23%, and the term of these loans on an average was 23 years. With regards to the banks, the interest rate of the mortgage loans on an average was 4.54%. The term on these mortgages on an average was 21 years.
Though the Spanish Banks were seen to be the biggest up takers of the cheap bonds with regards to the European Central Banks in the past months, mortgage lending on an average was seen to be down by 9.4% in February, 2012 in comparison to that of the previous year.

