Mortgage Debts Fall in Spain
Mortgage debts contracted by the Spanish families fell in February, amounting to 672.288 million euros, 0.1 percent less than in January, being a reduction for the third consecutive month, according to recent data Bank of Spain.
In December 2008 the debt of Spanish households was reduced to 673,153 million euros from 673,685 in November and in January it stood at 673,014 million euros.
In the last twelve months, the debt of households for house purchase has increased by 3.1 percent.
All the debts accumulated by the families residing in Spain with banks, cooperatives and savings banks (not only for house purchases), in February amounted to 905,760 million euros, 2.6 percent more than a year before but 0.2 percent less than in January, and 1 percent less than in November, when it peaked at 915.357 million euros.
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