The mortgage business weakens increasingly
28.05.2008
If yesterday we were glad for the increase in the payrolls of June for 200 euros, today we open with bad news: the unemployment advances and 38,5 % is already less houses that have sold with regard to the last year. For all this we are experiencing the fall most accused of mortgages from 2003.
The mortgage business sees very spiteful por the collapse of the sale of housings, which spreads to several months. To The loans that have been conceived to acquire a house they have lowered more than 40 %, what supposes 70.378 euros less. The real estate crisis and the rise of the Euribor do not make but to worsen this situation.
The property development company Martinsa-Fadesa, one of the principal real estate groups of Spain, already has admitted that it will do clippings in the staff. Anyhow the news is not new: it has already reduced 35 % of his workpeople. The company was provided only one year ago with more than 1400 employees. At present this number has seen limited a 900. His reorganization is going to affect the whole team, including the Galician part where the social head office is.
With regard to the interest rate, the price to which the banks grant his capital is 5,14 %, in an average term of 25 years. The savings banks for his part, give 5,01 %, and the average term is 26 years. Another important fact is that two months ago 97,9 % of the mortgages demanded a variable type. And inside this one the Euribor was the index most handled in the constitution of mortgages. It has been present in 86,8 % of the new contracts. í nicamente 2,1 % chose a fixed type.
Route: The Country
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