Rises in mortgage approvals registered for October in Murcia

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Rises in mortgage approvals registered for October
INCREASING: Mortgage lending for Murcia just below the national average

MORTGAGES on homes built in the Murcia region rose 7.8 per cent in the month of October compared to the same month in 2016.

According to data released by the Spanish National Institute of Statistics (INE), the percentage figure was lower than the national average increase – 8.2 per cent – and accounted for a total of 596 operations carried out during the month.
During the month, 828 mortgages were created in rural and urban estates in Murcia, including those for homes. Farms and rustic buildings accounted for 43 approvals with €3.6 million being loaned…part of the €68.9 million total.

The INE data put Murcia in tenth place among the Autonomous Communities in Spain that recorded increases in October behind La Rioja (87 per cent), Madrid (31.2 per cent), Galicia (22.1 per cent), Navarra (21.1 per cent), Cantabria (20.2 per cent), Balearic Islands (13.7 per cent), Catalonia (12.8 per cent), Basque Country (9.2 per cent), and Extremadura (8.3 per cent).

At a national level, the number of new mortgages registered on properties for October 2017 stood at 24,706…8.2 per cent higher than in 2016.
In other figures contained in the report, the average interest rate for mortgage loans on housing reached 2.67 per cent in October, compared to 3.17% in the same month of 2016. Variable rate mortgages accounted for 63 per cent registered compared to 37 per cent at a fixed rate.

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