Credit supply tightened again in the third quarter of 2026 and demand continued to decline
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According to the Bank Lending Survey for the third quarter of 2026, terms on new loans tightened owing to higher interest rates and demand fell in all three segments, most sharply in mortgages. Credit standards remained stable except for consumer lending, where they tightened slightly.
Key points
- Banks passed higher funding costs on to lending rates without widening margins.
- For the fourth quarter they expect to tighten supply to households and further falls in demand.
- AI is not yet having a significant impact on credit demand or lending policy.
Who is affected
Households, SMEs, credit institutions and credit cycle analysts.
Plain-language version
According to the Bank of Spain, in the third quarter of 2026 banks offered loans on tougher terms because interest rates rose, and people borrowed less, especially for mortgages. Banks expect to tighten lending to households further by year end. If you plan to borrow, it may cost you more.
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Summary produced with artificial intelligence from the official publication. It may contain errors: always check the original document.
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