The era of maximum ease for mortgages has not ended completely, but it is losing steam. Banks are detecting that the demand for credit to buy homes is deflating. The growth rate of new production is decelerating and, surely, it will continue to do so, taking into account the prices that housing has reached and the increased cost of its financing.

During the third quarter of this year, banks tightened access conditions for consumer loans, which are those intended to finance the purchase of a car, household appliances, travel, or renovations. According to the bank lending survey conducted by the Bank of Spain, these restrictions are linked to the increase in interest rates, which the European Central Bank (ECB) raised from 2.25% to 2.50% in September; however, they have not yet affected mortgages. The institutions, some of which decided to reduce the pace of granting loans for home purchases, anticipate that conditions will continue to tighten until the end of the year.

"In the last two years we have observed an acceleration of consumer credit by households." The realization that this type of loan is at its "historic high," with year-on-year growth exceeding 10% – according to November 2025 figures – reaching €114 billion – a figure representing around 15% of total household loans – is due to over-indebtedness. The Council of Ministers, in its first meeting of the year this Wednesday, approved it in its first reading. It will still have to pass a second reading before being submitted to Congress for scrutiny.

Eurozone banks slightly, albeit unexpectedly, increased restrictions on lending or credit lines to businesses during the third quarter of 2025, while keeping mortgage lending standards for individuals unchanged and slightly tightening conditions for access to consumer credit, according to the latest report.