Post by account_disabled on Jan 17, 2024 4:51:09 GMT
The Spanish bank sharpens its ingenuity to sell mortgages and, on many occasions, cheaper than a few months ago after the outbreak of the economic crisis derived from the coronavirus pandemic, which is why it has intensified its product offering and the hook to steal customers. to the competition. At the beginning of the year the main banks - Santander, BBVA, CaixaBank, Bankia, Sabadell and Bankinter - showed optimism about the evolution of the mortgage market and the forecast that interest rates would remain at historic lows also helped, but everything changed in mid-year. March with the declaration of the state of alarm to stop the expansion of COVID-19.
At that time, the mortgage signing, which had started the year with dynamism, came to a screeching halt and lending activity focused on providing liquidity to companies, with or without State guarantees, as a measure to contain the first Whatsapp Number List economic effects of confinement. of the population. The economic outlook will be key to the fact that there is demand for mortgages, but also the new offers from the banks, although none of the entities want to talk about a mortgage war. At the end of April, the banks assumed that mortgage production would fall significantly for the year as a whole and the CEO of Sabadell, Jaime Guardiola , even predicted a decrease in the year of 25 or 30%, an estimate that was microphones were accepted by some of his colleagues.
Only in May the signing of mortgages plummeted more than 27%, according to the latest data published by the INE, the National Institute of Statistics, but the banks assure that June was better, although without reaching the levels prior to the state of alarm, and they once again regain some optimism about the evolution in the coming months. The economic outlook will be key if there is demand for mortgages, but also the new offers from banks, although none of the entities consulted by Efe want to talk about a mortgage war and remember that the margins are low compared to European competitors. "I hope that we continue to apply common sense in this market ," Sabadell's CEO also claimed publicly at the end of July, the same day that his counterpart at CaixaBank, Gonzalo Gortázar , acknowledged that he expected a recovery in mortgage demand in Spain.
At that time, the mortgage signing, which had started the year with dynamism, came to a screeching halt and lending activity focused on providing liquidity to companies, with or without State guarantees, as a measure to contain the first Whatsapp Number List economic effects of confinement. of the population. The economic outlook will be key to the fact that there is demand for mortgages, but also the new offers from the banks, although none of the entities want to talk about a mortgage war. At the end of April, the banks assumed that mortgage production would fall significantly for the year as a whole and the CEO of Sabadell, Jaime Guardiola , even predicted a decrease in the year of 25 or 30%, an estimate that was microphones were accepted by some of his colleagues.
Only in May the signing of mortgages plummeted more than 27%, according to the latest data published by the INE, the National Institute of Statistics, but the banks assure that June was better, although without reaching the levels prior to the state of alarm, and they once again regain some optimism about the evolution in the coming months. The economic outlook will be key if there is demand for mortgages, but also the new offers from banks, although none of the entities consulted by Efe want to talk about a mortgage war and remember that the margins are low compared to European competitors. "I hope that we continue to apply common sense in this market ," Sabadell's CEO also claimed publicly at the end of July, the same day that his counterpart at CaixaBank, Gonzalo Gortázar , acknowledged that he expected a recovery in mortgage demand in Spain.