The Spanish mortgage market is not only registering more transactions than a year ago, but also larger loans. During June, 45,907 mortgages on homes were constituted, 10.8% more than in the same month of 2025, according to data published this Wednesday by the National Institute of Statistics (INE).
The second figure allows us to see how much the financing needed to access a home has changed. The average amount of each mortgage reached 178,365 euros, 6% more than twelve months earlier and the highest amount recorded in the entire historical series.
The third data completes the picture: the entities lent 8,188 million euros for mortgages on homes, 17.5% more year-on-year. The money granted thus grows almost seven points more than the number of transactions, reflecting the increase in the amount of loans.
Almost 10,000 euros more in mortgage than a year ago
The jump in the average amount allows for a better observation of the evolution. The 178,365 euros recorded in June represent approximately 10,000 euros more per mortgage than a year earlier. The year-on-year increase reaches 6%.
The data also establishes a historical maximum of the INE series. Never before had the average amount of a mortgage constituted on a home exceeded 178,000 euros.
The increase does not mean that all buyers are requesting exactly that amount nor that all homes have become 6% more expensive. It is a national average of the loans registered during the month, conditioned both by the value of the financed properties and by the amount that each buyer needs to request from the bank.
The capital lent grows much more than the transactions
The difference between the three variables is particularly significant. While mortgages increased by 10.8%, their average amount advanced by 6% and the total capital granted did so by 17.5%.
This behavior is mathematically coherent: if more loans are granted and, in addition, each one has on average a higher amount, the total volume of financing increases more intensely. In June, it reached 8,188 million euros.
The evolution shows that the strength of mortgage activity is accompanied by an increase in the amounts financed. The market not only moves more transactions than twelve months ago but also more money for each constituted loan.
259,684 mortgages during the first half of the year
The increase in June is not an isolated data point either. During the first six months of 2026, 259,684 mortgages on homes were recorded, the highest figure for a first semester since 2010.
The number of operations accumulates a growth close to 7% compared to the same period of the previous year. The rise in June also comes after the slight year-on-year decrease recorded in May, which had interrupted 22 consecutive months of increases.
The evolution of the amount is even more intense. In the accumulated data from January to June, the average amount of mortgages increases by 9.8% compared to the same period in 2025.
More amount does not mean a higher interest
Talking about higher amount mortgages should not be confused with an increase in the rate applied by banks. In June, the average interest rate of new mortgages on homes was 2.96%, compared to 2.97% in June 2025 and 2.98% recorded in May.
The average term was set at 25 years and the fixed rate continued to dominate new contracts. 61.7% of mortgages were established at a fixed interest rate, while the remaining 38.3% used a variable rate.
The paradox that the data leaves is, therefore, clear: the percentage cost of new mortgages has not increased compared to a year ago, but the amount being borrowed has. It is the amount of credit, and not the average interest applied in June, that is reaching highs.
The mortgage market grows while sales slow down
The evolution is even more striking when compared to real estate transactions. During the first semester, 2.6% fewer homes were sold than in the same period of 2025, while mortgages have increased by nearly 7%.
Both statistics are not directly equivalent nor are they necessarily recorded at the same time. The Mortgage Statistics account for loans registered in property records, so there is a lag concerning the date when the sale is formalized.
Even with that caution, the divergence allows us to observe a characteristic of the current market: mortgage activity maintains strong dynamism even while sales lose some speed. The result is a market in which more loans are being established and for increasingly larger amounts.
From 168,000 to more than 178,000 euros in twelve months
The change can be summarized in the evolution of the average loan. If compared to June 2025, the financed amount has gone from around 168,000 euros to over 178,000, a difference of nearly 10,000 euros in just twelve months.
This increase explains why the capital granted is growing so strongly. Banks are not only formalizing 10.8% more mortgages: each of them implies, on average, financing that is 6% higher.
June thus leaves three figures that summarize the change in the mortgage market: 45,907 signatures, 178,365 euros of average loan and 8,188 million euros mobilized. More mortgages than a year ago and, above all, larger mortgages.