Spanish to English: The Cost of Mortgages
General field: Bus/Financial
Detailed field: Finance (general) | |
Source text - Spanish
La aversion al riesgo instalada en la banca ha reducido la concesion de hipotecas un 18% en abril con respecto al mismo mes de 2012, con lo que el total de operaciones firmadas se situo en 17.508, lo que representa la segunda cifra mas baja de la serie historica tras el minimo de marza, segun ha publicado el INE. Por tanto, se confirma que la financiacion para comprar vivienda sigue sin tocar fondo tras tres ejercicios consecutivos a la baja y, lo que es peor, casi seis anos despues del estallido de la burbuja inmobiliaria. El frenazo coincide con los primeros dias tras la supresion de las desgravaciones fiscales en enero, ya que los datos del INE llegan con entre dos y tres meses de retraso. | Translation - English
The culture of risk aversion which has taken over in the banking industry has reduced the granting of mortgages by 18 per cent, as compared to the same month in 2012. The total number of transactions completed was 17,508 which is the second lowest figures since recorded figures began. Only the March figure was lower, according to figures published by the INE (National Institute for Statistics). As a result, this confirms that levels of funding for buying housing have not reached the bottom, after three consecutive sets of figures were lower. This is made worse by the fact that it is almost six years since the housing bubble burst. The marked slowing comes in the few days following the end of the tax concessions in January, as the data from the INE is delayed between two and three months. |
