Spain's home mortgages rise by 14.5 pct in March

The number of home mortgages granted to prospective buyers in Spain increased by 14.5 percent in March, compared with the same month of a year earlier, official data showed Friday.

According to data published by Spain's Statistical Office (INE), a total of 22,983 home mortgages were granted in the third month of the year, with the amount of capital loaned rising by 20 percent to more than 2.478 billion euros (about 2.775 billion U.S. dollars).

The average value per mortgage increased by 4.8 percent to 107,861 euros, according to the INE data.

So far, Spain's home mortgages have been rising for 22 consecutive months year-on-year.

Meanwhile, on a month-to-month basis, the INE reported a 7.7 percent fall in the number of mortgages from February to March, while in the first quarter of the year, the number of home mortgages granted to prospective buyers increased by 13.7 percent when compared with a year earlier.

Spain's housing market has been seriously affected by the burst of the housing bubble in 2008 that triggered the financial crisis.

That year, in 2011 and in 2012 home mortgages fell by more than 32 percent, while falling less in 2007, 2009, 2010 and 2013. The first time they grew was in 2014 when they rose by 2.3 percent. (1 euro = 1.12 U.S. dollars) Endit