Mortgages soared another 14% in April, while the average interest rate remained below 3% for three months.

The number of mortgages taken out on homes rose 14.4% in April compared to the same month in 2024, reaching 39,176 loans, the highest figure for an April since 2010, according to data released Friday by the National Statistics Institute (INE).

With April's year-on-year increase, 30 points lower than March's (+44.5%), home mortgage signings have seen ten consecutive months of increases.

The average interest rate on home loans stood at 2.98% in April, slightly higher than the 2.97% recorded in March, but below 3% for the third consecutive month.

The average interest rate for home mortgages fell below 3% in February for the first time in almost two years, and in April it remained below that level, although it rebounded slightly compared to March. According to Statistics, the average term for home loans reached 25 years in the fourth month of 2025, according to the Europa Press news agency.

The average mortgage amount on residential properties rose 12.4% year-on-year in April, to €155,883, while the capital loaned increased 28.5%, to €6.1068 billion.

In April, 32.9% of home mortgages were issued at variable rates, while 67.1% were issued at fixed rates, the highest percentage since January 2023. The average initial interest rate was 2.87% for variable rates and 3.04% for fixed-rate home mortgages.

On a month-on-month basis (April versus March), home mortgages fell 8.5% and loan capital decreased 9%. Meanwhile, the average home mortgage loan amount decreased 0.5% compared to March.

In the first four months of the year, the number of mortgages for home purchases increased by 17.3%, with increases of 33.5% in the capital lent and 13.8% in the average loan amount granted.

ANDALUSIA AND MADRID SIGN THE MOST MORTGAGES ON HOUSING

By autonomous communities, those that registered the highest number of mortgages taken out on homes in the fourth month of the year were Andalusia (7,738), Madrid (6,386), Catalonia (6,310) and the Valencian Community (4,741).

All regions signed more mortgages on homes last April than in the same month in 2024, except for the Basque Country, which recorded no change.

On the growth side, the year-on-year increases in Extremadura (+84.9%), Navarra (+61.7%), La Rioja (+45.3%), Castilla y León (+41.8%) and Murcia (+33.7%) stood out.

The most moderate increases were recorded in Asturias (+4.3%), Aragon (+5.4%), Andalusia (+8.8%), the Valencian Community (+9.3%), and Catalonia (+9.7%). In the remaining regions, increases exceeded double digits.

The total number of mortgaged properties increases by 12.6%

According to data from the statistical agency, the number of mortgages on rural and urban properties (the latter including homes) rose 12.6% in April compared to the same month in 2024, reaching a total of 50,562 loans.

The capital of mortgage loans granted grew by 24.9% year-on-year in the fourth month of the year, reaching €8.62 billion, while the average amount of mortgages granted on total properties increased by 10.9%, to €170,489.

MORTGAGES THAT CHANGE CONDITIONS DROP BY 30.8%

Last April, a total of 10,559 mortgage terms changed, a figure 30.8% lower than the same month in 2024.

Considering the type of change in conditions, there were 7,763 novations (or modifications made with the same financial institution), a 34.9% decrease.

The number of transactions that changed entity ( subrogations to the creditor) was 786, 25.3% less than in April 2024.

Meanwhile, in 2010, the ownership of the mortgaged property changed (subrogations to the debtor), 12.3% less than the same month last year.

Of the 10,559 mortgages whose terms changed in April, 77% were due to interest rate changes .