The total of new home loans taken in Israel in June was NIS 11.9 billion, the Bank of Israel reports, up from NIS 11.6 billion in June 2021, the Bank of Israel reports.
The total of new home loans taken in Israel in June was NIS 11.9 billion, the Bank of Israel reports, up from NIS 11.6 billion in June 2021 and down slightly from NIS 12 billion the preceding month. This was the fourth highest ever monthly mortgage taking figure and the fifth month this year, in which mortgage taking topped NIS 10 billion.
Despite two rate hikes in April and May, the public is still taking mortgages and buyers do not feel that housing prices are about to fall.
The average mortgage taken last month rose to NIS 988,000 and on the open market (minus the Buyers Price program) the average mortgage was a record NIS 1,050,000.
Mortgage repayments also reached a record level but there are signs that the mortgage market might be slowing with a fall in the new number of mortgage requests being opened.
Published by Globes, Israel business news – en.globes.co.il – on July 25 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Mortgages credit: Shutterstock
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