Compiled with the help of artificial intelligence, based on Spanish-language information. Source below the article.
Canary Islands lead the way in mortgage growth
The Canary Islands are leading Spain in the surge of home mortgages, with a spectacular 31.4% year-on-year increase in June, reaching a total of 1,663 mortgages. This is according to figures released this Wednesday by the National Statistics Institute (INE).
In contrast, across Spain as a whole, the number of mortgages secured on homes rose by 10.8% in June compared to the same month in 2025, reaching 45,907 loans – the highest figure for any June since 2010.
Return to growth after May dip
With this year-on-year advance in June, mortgage signings for homes across the country have returned to growth after a 0.1% dip in May, which had broken a streak of almost two years of consecutive increases.
The average interest rate for home loans stood at 2.96% in June, slightly down from May’s 2.98%. With the data from the sixth month of the year, we’ve now seen 17 consecutive months with a rate below 3%. The average interest rate for mortgages on homes managed to drop below 3% in February 2025 for the first time in nearly two years, and it has remained there ever since.
Loan amounts and terms on the rise
According to the statistics body, the average term for home loans stood at 25 years in June. The average amount of mortgages secured on homes rose by 6% year-on-year in June, reaching €178,365, while the total capital lent increased by 17.5%, surpassing €8.188 billion.
Just over a third of home mortgages – 38.3% to be precise – were signed at a variable rate in June, while 61.7% were fixed-rate. The average starting interest rate was 3.07% for variable-rate mortgages and 2.89% for fixed-rate ones.
Monthly comparisons and half-year figures
On a month-on-month basis (June compared to May), home mortgages rose by 8.8%, with the capital lent increasing by 10.9%. Meanwhile, the average amount of home mortgage loans advanced by 2% compared to the previous month.
In the first six months of the year, the number of home mortgages has grown by 7%, with increases of 17.5% in capital lent and 9.8% in the average loan amount.
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