The signing of new mortgages for the purchase of a house increased in the Balearic Islands by 7.5% in February in interannual rate,up to 729 contracts, according to INE data published this Wednesday.

In Spain, the signing of new mortgages for the purchase of a home decreased by 2.7% in February in interannual rate,up to 24,342 contracts, of which 38.3% were set at a fixed rate.

However, according to the data published today by the National Institute of Statistics (INE),the value of the mortgages constituted in February for the purchase of a home reached 2,820.8 million euros, 4.2% more in the interannual rate.

The average amount of these loans was 115,883 euros, 7.1% higher than in February 2016, and 2.7% more than in January of this year.