Spain Mortgage Lending Decreases In July

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Mortgage lending in Spain dropped 33.9% year-on-year to 6.77 billion euros in July, the National Statistics Institute said Monday. In July, the average value of mortgages approved during the month dropped 14.4% annually, and was down 6.2% on a monthly basis. The number of cancellations declined by 23%. Compared to the previous month, mortgage lending was down 7%.

Mortgage lending in Spain dropped 33.9% year-on-year to 6.77 billion euros in July, the National Statistics Institute said Monday. In July, the average value of mortgages approved during the month dropped 14.4% annually, and was down 6.2% on a monthly basis. The number of cancellations declined by 23%. Compared to the previous month, mortgage lending was down 7%. (Market News Provided by RTTNews)