Armengol (Sabadell): We are seeing a notable slowdown in mortgage demand
The CEO estimates that new production may decrease in the coming quarters, but believes that the credit stock will continue to increase.
Banco Sabadell's CEO, Marc Armengol, has stated that the group is seeing a slowdown in mortgage demand due to reduced home sales in Spain, caused by a lack of supply and housing price trends. Despite this, the bank has not yet seen a decrease in new mortgage approvals, but expects this to possibly decline in upcoming quarters. In the third quarter, new mortgage production remained flat compared to the same period last year and increased by 5% from the second quarter. Armengol expects the stock of mortgage credit to continue growing, unlike new production.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
