The difference is also reflected in the amount lent: the average mortgage in Aragon stood at 144,792 euros, around 36,500 euros below the national average of 181,285 euros. In total, home loans arranged in the region during August amounted to 126.4 million euros.
ZARAGOZA ACCOUNTS FOR MOST MORTGAGES
By province, Zaragoza recorded 680 home mortgages, compared with 144 in Huesca and 49 in Teruel. The province of Zaragoza therefore accounted for nearly eight out of every ten transactions in the region. Lending reached 104.2 million euros in Zaragoza, 17.7 million euros in Huesca and 4.6 million euros in Teruel.
Aragon's decline was the fourth sharpest among Spain's autonomous regions. Only La Rioja, with a 27.7% fall; the Balearic Islands, with 21.8%; and Madrid, with 5.8%, recorded larger declines. At the other end of the scale, Extremadura led the increases, with growth of 41.8%.
TRANSACTIONS AND LENDING AMOUNTS RISE IN SPAIN
Across Spain, 33,841 home mortgages were recorded in August. In addition to the increase in the number of transactions, the average amount borrowed also rose, reaching 181,285 euros, 7.7% more than a year earlier. That is around 36,500 euros more per loan than the average recorded in Aragon.
The average interest rate on new home mortgages stood at 3.08% in Spain, while the average repayment term reached 26 years. Fixed-rate mortgages were the most popular option, accounting for 64.1% of transactions, compared with 35.9% signed at variable rates. These percentages refer to the national total.
