DBRS Morningstar: Spanish Housing and Securitization Market Update

LONDON–(BUSINESS WIRE)–In this commentary, we provide an overview of the Spanish property market as well as how the recent past is shaping the residential mortgage-backed securities (RMBS) market.

Key findings include:

— The Spanish government has introduced several support measures due to the impact of the pandemic, which has kept delinquencies low.

— Despite the double-digit drop in GDP caused by the pandemic, Spanish house prices have remained high.

— The total number of Spanish RMBS transactions rated by DBRS Morningstar is 44, and the weighted average of past due over 90 days by current balance of these transactions was 0.8%.

“In 2022, DBRS Morningstar expects the economic recovery to continue, albeit at a slower pace than expected, due to geopolitical uncertainties weighing on major global economies. Despite the double-digit decline in GDP caused by the pandemic, Spanish house prices have remained high overall and house price appreciation could continue in 2022, especially in major cities such as Madrid and Barcelona,” said Ketan Thaker, Managing Director of European RMBS at DBRS Morningstar.

To view the full report, click here: https://www.dbrsmorningstar.com/research/398160/spanish-housing-and-securitization-market-update

The DBRS Morningstar group of companies consists of DBRS, Inc. (Delaware, USA) (NRSRO, subsidiary DRO); DBRS Limited (Ontario, Canada)(DRO, subsidiary of NRSRO); DBRS Ratings GmbH (Frankfurt, Germany)(EU CRA, NRSRO subsidiary, DRO subsidiary); and DBRS Ratings Limited (England and Wales) (UK CRA, NRSRO subsidiary, DRO subsidiary). For more information on regulatory registrations, recognitions and approvals from the DBRS Morningstar group of companies, please see: https://www.dbrsmorningstar.com/research/highlights.pdf.

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