What are the forecasts for the coming months?
The data of the National Institute of Statistics (INE) of last March reflect a drop in the number of mortgages signedwhich coincides with an increase in the average interest rates on loans contracted during that month.
However, according to experts from iSavingsthese last months banking entities have been less strict with the granting of a mortgage, and average interest rates have been reduced considerably since 2023.
Although the INE statistics show a average interest rate of 3.41%the second highest in the last ten years, iAhorro data indicates that Loans can be obtained for an interest rate of 1.92%, almost a percentage point and a half below, so it is possible to contract loans below that official figure. What is the reason then that the number of mortgages signed has fallen in the last month for which there is data?
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The reason why mortgages fell in March
As experts explain, March was a bad month for the mortgage market because, since Easter coincides with it, The business days to sign a mortgage loan before a notary were reduced and, therefore, it is normal that the volume of mortgages signed has decreased compared to the previous month. However, the INE has not reflected the rate drop, which has remained above 3%.
What will happen in the coming months?
What will happen in the coming months? As the director of Fotocasa Studies, María Matos, explained to 20minutos, “As soon as interest rates drop and the Euribor stabilizes, banking entities will adapt the conditions of their offers and will probably make fixed mortgages more attractive.
It will be when rates drop, therefore, when a “mortgage war” will be unleashed by the banks to achieve the greatest number of sales. The forecast is that it will be from Junesomething that seems certain to happen, although it is not known how much the drop will be.
