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Diari Catalunya

Spanish household delinquency rate falls to pre-2008 crisis level

Families reduced unpaid loans to 2.4% in September, a figure similar to that recorded before the collapse of Lehman Brothers.

Gràfic que mostra la tendència a la baixa de la taxa de morositat de les llars al llarg dels anys.

Gràfic que mostra la tendència a la baixa de la taxa de morositat de les llars al llarg dels anys.

Spanish households reduced their delinquency rate to 2.4% in September, according to data from the Bank of Spain, reaching a level almost identical to that recorded just before the outbreak of the great global financial crisis in 2008.

This rate, which stands at 2.4% (very close to 2.36% in September 2008), marks a significant milestone in the economic recovery. The decline occurs 17 years after the bankruptcy of Lehman Brothers triggered the crisis. The balance of unpaid family loans closed September at 15.698 billion euros.
The improvement is mainly due to the positive evolution of employment, with Spain closing 2025 with a new historical maximum of 21.84 million workers registered with the Social Security. Furthermore, the reduction of interest rates by the European Central Bank (ECB), which set the reference rate at 2% between June 2024 and 2025, has provided relief to indebted households.

The current situation and evolution of family delinquency is very positive, even despite the sharp rise in official interest rates between July 2022 and September 2023.

It should be remembered that the default rate reached its historical maximum of 7.1% in March 2014. Since then, the trend has been almost uninterruptedly downward. By segments, mortgage delinquency fell to 1.85% in September, the lowest since 2008, while consumer credit maintained a rate of 4%.
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