The mortgages volume in Spain overcame for the first time 700.000 million Euros
12.01.2006
This interannual increase confirms once again the good march of this business, which registered in absolute terms a growth for 144.601 million euros in these twelve months, while in the first ten months of 2005, the increase was 122.852 millions.
Only in October, the mortgages in force in Spain increased in 11.736 million euros, they add the information of the AHE, which predicts that the interannual valuation will grow to closing of December over 25 per cent, what it will turn 2005 in the most expansive year of the long cycle that began in 1996.
The association tells that this increase has been possible thanks to the low interest rates, despite the increase of the price of the decided money the last first of December for the European Central Bank, that they have allowed to absorb, partly, the "important" growth of the prices of the housing.
Nevertheless, he warns that this situation might change in 2006 with the increases foreseen in the interest rates, which they might place to the interbank reference most used to calculate the interest of the mortgages, the Euribor, in 3,3 per cent in the last trimester of 2006 opposite to 2,8 current per cent.
Source: finanzas.com
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