The mortgage market closed 2025 with figures not seen in 15 years. The National Statistics Institute (INE) makes it clear: 501,073 mortgages for housing were signed last year, 17.8% more than the previous year. In December alone, almost 38,000 new transactions were added. This represents a record since 2010.
Not only did the number of mortgages increase, but also the average loan amount and the total capital lent by banks. The main reason: housing is becoming increasingly expensive. The average mortgage amount grew by 12.6%, reaching €163,738. But the most striking figure is the total capital lent, which rose by 32.6% and exceeded €82 billion.
All autonomous communities saw more transactions than the previous year. Cantabria, La Rioja, Murcia, and Extremadura led the increases, with rises between 25% and 43%. Madrid and Navarre, on the other hand, saw minimal growth, but no region lagged behind. The remaining autonomous communities also registered double-digit increases.
As for interest rates, loans closed 2025 with an average rate of 2.87%. This is slightly lower than in November and marks 11 consecutive months below 3%. A welcome relief for those seeking financing.
Fixed-rate mortgages continue to dominate the market. In December, they accounted for 63.4% of transactions, and the upward trend that began in the summer appears to be here to stay. The average term of these loans remains at 25 years.
The last month of the year was particularly active. 37,841 mortgages were signed, 17.4% more than in December 2024, and five percentage points higher than the growth in November. Thus, mortgage lending has now risen for 18 consecutive months. The average loan amount in December reached €172,535, a 13.5% increase, and banks lent more than €6.5 billion, a 33% jump. The sector is clearly committed to continuing to provide housing loans.
However, not all regions followed the same trend in December. Asturias was the only region to experience a decrease, with a 4.1% drop. La Rioja, Castilla-La Mancha, and the Canary Islands led the growth, with increases ranging from 29% to 35%.
On the other hand, the number of mortgages with changes to their terms fell by 21.4% in December. There were fewer modifications, fewer changes of mortgage holder, and fewer transfers of lenders. Of the 8,696 mortgages with modifications, 81% involved a change in the interest rate.
Regarding the overall trend, Juan Villén, CEO of idealista/mortgages, summarizes it this way: 2025 ended with a huge number of mortgages signed, well above 2024. Competition among banks and the willingness to lend money helped keep interest rates attractive. Furthermore, average loan amounts continue to rise because housing prices keep climbing and banks are willing to lend even to young people and families with less savings.
Looking ahead to this year, Villén believes the upward trend will continue, although the pace will not be as rapid and interest rates will begin to rise slightly. In fact, this is already being felt in January. Even so, he expects 2026 to remain optimistic for mortgage lending.
The Federation of Real Estate Companies Associations (FADEI) also agrees: 2025 was a year of solid and sustainable growth for mortgages, far removed from the excesses of the housing bubble. Banks are being more prudent, and this helps maintain a healthier market. The employers' association insists: the housing market is experiencing a period of high activity. The context is favorable for both buying and selling. Add to that competitive interest rates and strong demand due to population growth, and the result is what we are seeing: record figures and high confidence in the sector.
Idealista (2026) Mortgages Have Their Best Year Since 2010 with More Than Half a Million Signatures, idealista/news. Available at: https://www.idealista.com/news/finanzas/hipotecas/2026/02/19/885148-las-hipotecas-viven-su-mejor-ano-desde-2010-con-mas-de-medio-millon-de-firmas (Accessed: 19 February 2026).
