The volume of mortgages formalized on homes increased by 2.3% in August compared to the same month in 2025, reaching 33,841 contracts, the highest figure in an August since 2022, according to data published this Monday by the National Institute of Statistics (INE).
After this year-on-year advance in August, the constitution of mortgages on homes returns to an upward path after recording a decrease of 3.5% in July.
The average interest rate applied to loans for the purchase of homes stood at 3.08% in August, its highest level since January 2025 and the second consecutive month above 3%, after the 3.01% recorded in July.
The average interest rate for mortgages constituted on homes managed to drop below 3% in February 2025 for the first time in almost two years, but last July it exceeded this threshold again. According to Statistics, the average term of housing loans was 26 years in the eighth month of the year.
The average amount of mortgages constituted on homes increased by 7.7% year-on-year in August, reaching 181,285 euros, while the capital lent advanced by 10.2%, surpassing 6.134 billion euros.
Just over a third of the mortgages on homes, specifically 35.9%, were constituted in August at a variable rate, while 64.1% were at a fixed rate. The average interest rate at the start was 2.95% for variable rate mortgages and 3.16% for fixed rate mortgages.
In monthly comparison (August versus July), mortgages on homes plummeted by 22% and the capital lent decreased by 21.8%. Nevertheless, the average amount of mortgage loans on homes advanced by 0.3% compared to the previous month.
In the accumulated total for the first eight months of the year, the number of mortgages on homes has increased by 5.1%, with increases of 15.2% in the capital lent and 9.6% in the average amount of loans granted.
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