The total balance of mortgage loans of financial institutions was established in April at 1,056 billion euros, representing a decrease of 3.42% in twelve months and the most significant drop since 1992, when the historical series began to be published, according to the data released today by the Spanish Mortgage Association (AHE).
Also, this decrease of more than 3% contrasts with the growth of more than 20% that the mortgage balance reached in the most acute phase of the real estate boom in Spain. In March 2010, the balance was up 0.7% year-on-year and was worth 1.095 trillion euros.
Specifically, the mortgage balance in April decreased by nearly 4,000 million euros when compared to March (-0.52%), and experienced a decrease of 37,349 million euros concerning the same month of 2010.
The boxes register the most significant fall
By types of entities, the outstanding balance of the mortgage credit of savings banks recorded the most significant cut (-7.38%) and was established at 558.634 million euros, while in the case of banks added 412,319 million euros, 2.33% more.
The total mortgage balance decreased in credit cooperatives and was established at 69,653 million (-2.38%) while in financial credit establishments (EFC) it was set at 15,740 million, which means 3.14% less.
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