Spain Signed 45,907 Home Mortgages in June, the Most for the Month Since 2010
Spain registered 45,907 mortgages on homes in June, up 10.8% on the year and the strongest June since 2010, at an average interest rate of 2.96%.
Spain's National Statistics Institute registered 45,907 mortgages on dwellings in June 2026, 10.8% more than a year earlier and the highest June total in sixteen years. Lenders advanced 8,188 million euros against those loans, 10.9% more than in May. The average loan reached 178,365 euros, a 6.0% annual increase, at an average interest rate of 2.96% — three tenths of a point below June 2025 — over an average term of 25 years.
Bigger loans, not just more of them
The composition of the increase matters more than the count. Volume grew 10.8% in June while the capital lent grew faster, and across the first half of 2026 the divergence is sharper still: 259,684 mortgages signed, up 6.7% on the same period of 2025, against 17.5% growth in the money advanced and a 9.8% rise in the average loan. Borrowers are not simply more numerous. Each one is carrying materially more debt than a year ago, on a rate that has now dropped below 3%.
Andalucia leads on volume, the Canaries on growth
Andalucia signed the most mortgages in June at 9,321, ahead of Cataluna with 8,045, Madrid with 6,976 and the Comunidad Valenciana with 5,675. The fastest annual growth came largely from outside that group: Canarias at 31.4% and Castilla-La Mancha at 23.2%, followed by the Comunidad Valenciana at 16.1% — the only region to appear both in the top four by volume and the top three by growth rate.
Credit is expanding more slowly than prices
Glopra tracks Spanish residential prices at $2,331 per square metre nationally, up 12.8% over the past year, on a gross rental yield of 5.45%. Mortgage volumes rising 10.8% and average loan sizes rising 6.0% both sit below that price growth, which means the average buyer is covering a widening share of the purchase from equity or savings rather than from the bank. That is a quieter form of affordability pressure than a rate shock, and it filters buyers by wealth rather than by income.
The regional detail sharpens the point. Valencia, in the autonomous community with the third-fastest lending growth, is priced at $3,839 per square metre in Glopra's index and carries the highest bubble-risk reading of any Spanish market tracked, 83 out of 100, against 61 for the country as a whole. Cheaper credit flowing fastest into the regions already showing the most stretched valuations is the tension inside this release. One month does not settle it — the June figure is a single print in a series that has been climbing since early 2025, and the July and August data will show whether the pace held.
Sources: INE Estadistica de Hipotecas, 26 Aug 2026 https://www.ine.es/dyngs/INEbase/es/operacion.htm?c=Estadistica_C&cid=1254736170236&menu=ultiDatos&idp=1254735576757; The Objective, 26 Aug 2026 https://theobjective.com/economia/2026-08-26/hipotecas-dispararon-junio-record-16-anos/; Press Digital, 26 Aug 2026 https://www.pressdigital.es/articulo/economia/2026-08-26/5993788-hipotecas-sobre-viviendas-marcan-record-16-anos-mes-junio-dispararse-108