Families are encouraged to seek new mortgages. Less mortgage this month
applications of private loans for house purchase rebounded for the first time since mid-2006, according to the latest Economic Bulletin, Bank of Spain, released last Friday.
These data are in line with the figures of funding granted by banks in June, which this week have shown that the balance of the mortgages to individuals in 685 000 million, has risen by 1.4%, the highest increase since April 2009. This improvement contrasts mortgages the lack of effect of other loans.
applications for consumer credit and other purposes by families remained stable, although after three years of decline. Restriction
face of greater demand for household credit, banking continues to react, however, with caution. Entities implemented in the second quarter, "some tightening" in the criteria for approval of new loans, after several quarters in which hardly changed.
The cause of this hardening is in the deterioration of the institutions themselves access to financing in capital markets more restrictive than before the tensions unleashed by the Greek fiscal crisis.
The price volatility, higher risk premiums and cuts debt rating on the English, have hampered the collection of funds from the bank. Although the supervisor notes that in July, these tensions have eased, after the stabilization plans of the European countries and the publication of the stress test. Less
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