Spain July home mortgages fall 3.5% YoY, signaling real estate cycle shift

Spanish home-purchase mortgages fell 3.5% year-on-year in July to 43,372, reversing a 10.8% increase the prior month that had marked a July high since 2010. The data suggests cooling demand in the housing market, likely reflecting higher borrowing costs or economic uncertainty. This shift could weigh on Spanish growth and bank lending outlooks.