August 27, 2014 / 9:12 AM / in 3 years

Biggest rise in June since 2006 for Spanish mortgages approvals

MADRID, Aug 27 (Reuters) - The number of Spanish mortgages granted in June rose 19 percent year-on-year, National Statistics Institute INE said on Wednesday, the biggest monthly rise since March 2006.

In another sign of a gathering economic recovery, the number of mortgage approvals rose to 17,137 in June, while the average amount loaned was 98,682 euros, up 1.3 percent year-on-year.

Spain’s government has forecast the economy will grow 1.5 percent this year after it after shrinking, or stagnating, since 2009 after a housing bubble burst. (Reporting By Elisabeth O‘Leary, Editing by Sarah White)

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