Spain recorded 43,372 home mortgages in July, 3.5% fewer than a year earlier, while the average principal rose 10.9% to €180,785. The national statistics office’s provisional series counts entries in property registers, so it does not measure only loans signed that month. The divergent count and amount show why the July housing finance picture cannot be reduced to a single headline figure.
Spain’s property registers recorded 43,372 home mortgages in July 2026, 3.5% fewer than a year earlier. The average principal rose 10.9% to €180,785. That meant the total principal secured on homes increased 7.0% to €7.841 billion despite fewer registered loans. The figures describe a split between the volume of transactions and the size of each loan, rather than a uniform fall in housing credit.[1], [2]
The average initial interest rate on the registered home mortgages was 3.01%, and the average term was 26 years. Fixed-rate contracts accounted for 62.3% of the total, with a 3.03% average initial rate. Variable-rate contracts represented the other 37.7%, averaging 2.97% at the outset. These are terms attached to the July registrations; they do not indicate how much an existing borrower’s monthly instalment changed.[1]
Across all property types, Spain registered 56,595 mortgages, 0.8% fewer than in July 2025. Changes to existing mortgage terms numbered 10,926, down 18.6%, and most of those changes concerned interest rates. The statistics office calls the data provisional and counts deeds entered in property registers after notarisation. A deed can reach the register later than the signing date, so the July release should not be read as a tally of contracts signed only in July.[1]
