{
  "id": 10573023,
  "title": "Mortgage firming suffers the biggest drop in two years",
  "url": "https://urgent.news/2026/09/28/la-firma-de-hipotecas-sufre-el-mayor-descenso-en-dos-anos",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-28T23:03:22.000Z",
  "source": {
    "name": "Expansion ES",
    "slug": "expansion-es",
    "url": "https://www.expansion.com/ahorro/2026/09/29/6abaee4de5fdea3e108b4577.html"
  },
  "original_language": "es",
  "account": "The housing mortgage market in Spain experienced its largest year-over-year decline in two years in July, according to data released by the National Institute of Statistics (INE). Mortgage signings dropped 3.5% compared to the same period last year and 5.5% below June's figures, totaling 43,372 loans for home purchases. This represents the most significant decline since June 2024, cutting growth to 5.4% for the first seven months of the year compared to the same period last year. However, July 2023's performance must be considered, as it was the best seventh month of the year since 2010, potentially skewing the comparison.\n\nThe housing market is lagging behind the radical changes in rules brought about by skyrocketing house prices, which are reducing activity, and the increase in mortgage costs amid rising interest rates. Home sales fell 5.1% in July compared to the same month in 2025, totaling 61,417 transactions. The median cost of mortgages reached 3.01% in July, surpassing the 2.96% in June for the first time in over a year. Financial institutions are struggling to maintain their margins amid the continuous increase in Euribor rates. The mortgage index closed at 3.37% daily, signaling a fourth consecutive monthly rise.\n\nIf the index stabilizes at or above 3%, it is expected that fixed-rate mortgages will become more rigid by the end of the year. Homebuyers and those with adjustable-rate mortgages are advised that waiting may be costly, according to Trioteca mortgage broker Ricardo Gulias. New mortgages are increasingly expensive and large, with the median mortgage amount rising by 10.9% to a record high of 180,785 euros in July. This has led to borrowers needing to take on more debt to complete purchases. While active buyers and financial institutions remain willing to provide credit, the market is adjusting as housing prices force buyers to borrow more for each transaction.",
  "summary": "Se confirma el cambio de ciclo provocado por el alto precio de la vivienda y el alza del coste de los préstamos. Leer",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}