Mortgage operations on homes in the province of Tarragona grew by 7.6% in May compared to the same month last year. A total of 864 mortgages were formalized in the Camp de Tarragona and Terres de l’Ebre, with an average loan amount of 136,472 euros per transaction.
At the Catalan level, 7,537 mortgages were registered in May, a 9.3% year-on-year increase. In Spain, however, operations decreased by 0.1% year-on-year, reaching 42,213, breaking a streak of 22 uninterrupted months of growth, according to provisional data from the National Statistics Institute (INE).
Since January, the number of mortgages on homes has increased by 6.2%. The average amount of these transactions reached 174,866 euros in May, 9.7% more than the previous year. The average interest rate for mortgages on homes stood at 2.98%, the highest since June 2025, with an average repayment term of 25 years.
“"From now on, market evolution will depend «much less on the cost of financing and much more on its structural imbalances»."
Industry experts suggest that accessing a mortgage now involves not only facing the monthly payment but also having the savings for the down payment and associated transaction costs. The volume of loans signed in May appears to have stabilized, although a slowdown is anticipated, which may become more evident in future statistics, in parallel with the decline in property sales.
Interest rates continue to rise month by month, reinforcing an upward trend in financing costs driven by geopolitical tensions. Despite market moderation, it is not shutting down, and the average of 42,944 monthly mortgages so far in 2026 is considered an extraordinary figure.
In May, 60.9% of mortgages on homes were signed at a fixed interest rate, marking nine consecutive months above 60%. The remaining 39.1% were closed at a variable rate, with an initial average interest rate of 3% for these and 2.96% for fixed-rate mortgages.
