Spanish home mortgages increase by 19.7 pct in March

The number of home mortgages granted to prospective buyers in Spain increased by 19.7 percent in March when compared with the same month in 2014 according to data published on Wednesday by Spain's Statistical Office (INE).

A total of 19,806 home mortgages were granted to prospective buyers in March, which meant a 19.7-percent increase on a year-on-year basis but a 7-percent fall on a month-to-month basis, the INE data showed.

The amount of capital loaned in March rose by 20.1 percent on a year-on-year basis to around 2.019 billion euros (2.197 billion U.S. dollars), while the average value of mortgage rose to 101,989 euros, which meant a 0.3 percent rise on a year-on-year basis.

The INE reported in the first quarter of the year, the number of home mortgages granted to prospective buyers rose by 22.9 percent in comparison with the same period of a year earlier.

The amount of capital loaned rose by 27.4 percent during this period while the average value rose by 3.7 percent.

Home mortgages have been rising by ten consecutive months on a year-on-year basis showing an improvement in Spain's real estate sector after a property crash occurred in 2008. (1 euro = 1.09 U.S. dollars) Endit