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Spain's home mortgages fall by 14.9 pct in July

Xinhua, September 28, 2016 Adjust font size:

The number of home mortgages granted to prospective buyers in Spain fell by 14.9 percent in July, compared with the same month a year earlier, according to data released on Wednesday by Spain's Statistical Office (INE).

A total of 18,706 home mortgages were granted to prospective buyers in July, the INE said, with an average value of 115,540 euros (129,319.86 U.S. dollars), which meant a 10.1-percent increase year-on-year. The amount of capital loaned fell by 6.3 percent to 2.16 billion euros.

Home mortgages had been rising for 25 consecutive months on a year-on-year basis before falling by 14.9 percent in July.

On a month-to-month basis, home mortgages fell by 26 percent with the capital loaned decreasing by 24 percent and the average value rising by 2.7 percent since June.

The INE also reported that in the first seven months of the year, the number of home mortgages increased by 13.8 percent, with the capital loaned rising by 17.6 percent and the average value increasing by 3.3 percent. Endit