Spanish home mortgages rise 10.8% in June 2026 as average loan amount reaches 178,365 euros

National mortgage volume and lending growth

Spain recorded 45,907 new housing mortgages in June 2026, an increase of 10.8% compared to the same month in 2025, according to data released by the National Statistics Institute (INE). This total represents the highest volume of home loans signed in a month of June since 2010. The figures mark a return to annual growth after a 0.1% contraction in May 2026 interrupted an expansion that had lasted nearly two years. On a month-on-month basis, home mortgage contracts rose 8.8% from May. Total capital loaned for housing reached 8,188 million euros in June, reflecting a 17.5% increase compared to June 2025 and a 10.9% rise compared to May. Across all property types, registered mortgages totaled 58,361, up 10% year-on-year, with aggregate loaned capital rising 27.4% to reach an overall average of 212,887 euros per loan.

Interest rate structure and loan conditions

The average interest rate for new housing mortgages stood at 2.96% in June 2026, edging down from 2.98% in May. June represents the seventeenth consecutive month in Spain with an average mortgage interest rate below the 3% threshold. The average repayment term for home loans remained steady at 25 years. Fixed-rate contracts continued to dominate the market, accounting for 61.7% of all new home mortgages with an average initial interest rate of 2.89%. Variable-rate mortgages represented the remaining 38.3% of agreements, carrying an average initial rate of 3.07%.

Recent trends suggest we are unlikely to return to the extraordinarily low financing levels seen in previous years.

Regional divergence and loan value disparities

The national average loan amount for housing reached 178,365 euros in June 2026, rising 6% from June 2025 to register the highest level in the INE data series since its inception in 2003. Substantial geographical disparities persisted across autonomous communities in both average loan size and transaction growth. The Balearic Islands registered the highest average housing loan at 314,623 euros, followed by the Community of Madrid at 278,941 euros and Catalonia at 194,891 euros. In contrast, the lowest average mortgage amounts were recorded in La Rioja at 107,240 euros, Extremadura at 118,609 euros, and Murcia at 120,374 euros. Thirteen regions recorded annual increases in mortgage signings, led by the Canary Islands with a 31.4% rise and Castilla-La Mancha with 23.2%. Three autonomous communities registered annual declines: the Balearic Islands fell 10.4%, Cantabria dropped 9.1%, and Galicia contracted 7.26%, while Murcia saw no percentage change.

Provincial and regional activity breakdowns

In absolute terms, Andalusia led the country with 9,321 home mortgages constituted in June 2026, an annual gain of 15.7% and the highest June volume in the region since 2010. Total housing capital lent in Andalusia rose 32.2% year-on-year to 1,511 million euros, while property cancellations in the region reached 10,460. In the province of Córdoba, cumulative home mortgages for the first half of 2026 reached 3,903, up 14.1% compared to the first half of 2025, with banks lending 439.1 million euros. In Galicia, 1,418 home mortgages were signed in June, down from 1,529 in June 2025, though housing capital lent rose from 187 million to 191 million euros. Navarra registered 514 home mortgages in June, a 12.5% increase over June 2025 with 81 million euros in housing loans, despite a 26.3% decline in volume compared to May 2026.