Good news for mortgage borrowers: interest rates continue to fall. In May, the implicit interest rate for all contracts stood at 3.570%, the lowest in the last two years. This drop is due to the fall in the Euribor and greater demand for more affordable mixed rates.
In the specific case of house purchase contracts, the rate fell to 3.555%. However, the monthly instalment is not falling at the same rate - it's down by just 1 euro compared to April, standing at 395 euros.
On average, 53% of the instalment goes towards interest (€210) and 47% towards capital repayment (€185). The average debt continues to rise: in May, the outstanding capital rose to 71,042 euros.

For new contracts made between March and May, interest fell slightly to 3.057%. However, the monthly instalment rose to 641 euros because the banks are lending higher amounts - 153,717 euros on average.

Translated with DeepL.com (free version)

Source: Idealista