Spain July mortgage lending falls 33.9 pct y/y

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Spain July mortgage lending falls 33.9 pct y/y

News Article Date: Monday 12th of October 2009

The rate of decline compared with a record 56.2 percent drop in April. Article Controls email reprint newsletter comments share Digg It! yahoo Facebook Twitter Reddit rss Yahoo! BuzzJuly mortgage lending totalled 6.77 billion euros ($9.94 billion) at a time of soaring unemployment and a housing crash. The average value of mortgages approved during the month was 14.4 percent lower than a year earlier. Spain's housing market, which fuelled a decade of robust economic growth, has gone into a deep freeze as banks restrict lending.
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