Balearics home mortgages drop 10.4% in June

Home mortgage lending in the Balearics slips 10.4% in June, with 783 loans agreed across the islands. The National Statistics Institute (INE) published the figures on Wednesday, comparing them with June 2025. Mortgages on all types of rural and urban property, including homes, totalled 1,120, while the capital lent across the archipelago reached €650 million.

The Balearics was one of only three Spanish regions where home mortgages fell year on year. Cantabria recorded a 9.1% drop and Galicia a 7.3% fall; Murcia showed no change.

Spain's home lending turns upwards

Across Spain, 45,907 home mortgages were signed in June, up 10.8% on a year earlier. It was the highest June total since 2010, after a 0.1% decline in May ended a run of almost two years of annual increases.

The average rate for a home loan was 2.96%, down from 2.98% in May, with an average term of 25 years. The average loan rose 6% over the year to €178,365, the highest figure in the historical series.

Fixed-rate loans made up 61.7% of new home mortgages, against 38.3% at variable rates. The starting average rate was 2.89% for fixed loans and 3.07% for variable ones.

Fewer mortgages change their terms

A total of 10,261 mortgages across Spain changed their conditions in June, 19.1% fewer than a year earlier. Changes to interest rates accounted for 83.1% of those cases, according to the INE.

Topics: Economy

Source: Europa Press / Mallorca.com