The number of new mortgage transactions in May fell by 29% compared to the same month last year.
The average value of mortgages also fell, by 5.4% to €96,400. The average interest rate applied by financial institutions was 4.58%, up by 7% on last year.
The only region in Spain to experience an increase in mortgage transactions in May was Aragon, where the rise was 9.2% to 676 transactions.