The average interest rate at which Spanish financial institutions issue mortgage loans in March of this year was 1.5%. Just a month earlier, in February, the percentage was at the level of 1.4 points.
Curiously, in March 2021, the rate was also at 1.5%, according to Bank of Spain data collected by the Spanish Mortgage Association (AHE).
Thus, the interest rate on a mortgage loan for a period of three years for the purchase of housing, which the borrower can get from Spanish banks, returned to the indicator of a year ago after falling to 1.4% in January-February 2022.
The rate is returning to an increase of more than 1.5%, although at the moment it is still below the maximum recorded in the last 12 months since March 2021.
In view of this, Euribor index, to which interest on loans from most Spanish financial institutions is linked, ended March of this year at -0.2%.
At the same time, the average rate for a loan for a period of 1 to 5 years for the purchase of housing from credit institutions in the eurozone was 1.49%.