Spanish home loans slump to record low
29 December 2011 @ 17:29
New Spanish home loans collapsed to their lowest number in at least eight years in October, official data showed on Wednesday, as the economy battled a feared recession.
People took out just 22,193 loans in the month, down 43.6 per cent from a year earlier, said the National Statistics Institute.
It was the lowest monthly figure since the data were first collected in the current format in 2003, a period that includes the 2008 property bubble collapse, which wreaked havoc on Spain's economy.
Read more at ninemsn.com
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