Mortgage (freepik photo)
Data from the Bank of Israel published this week show quite a bit that alongside the hot housing market, the almost inconceivable madness surrounding mortgages in Israel continues. According to the data, the volume of mortgages taken last January is about NIS 9.96 billion. Paradoxically, this is a decrease of 18% compared to the previous month.
If that is not enough, the data show that the volume of mortgages taken in January for apartments worth more than NIS 5 million increased by 105% compared to the same period last year, and amounted to NIS 714 million.
The volume of mortgages taken during this month for properties worth NIS 5-3 million increased by 89% compared to the corresponding period last year, and amounted to NIS 1.6 billion. Mortgages of apartments worth NIS 3-2 million increased the volume of mortgages taken out by 67%, and for mortgages taken out for apartments worth NIS 2-1.2, it increased by 36%.
More in-
A segmentation of the monthly mortgage performance according to the value of the loan repayment shows that the monthly repayment has increased significantly. Mortgage performance according to a repayment of 30% -40% of income increased by 67% compared to the corresponding period, and amounted to NIS 3.6 billion in January. On the other hand, mortgage performance according to a repayment of 20% -30% increased by 55% compared to the corresponding period last year, and amounted to NIS 3.8 billion.
Additional data show that the average mortgage in Israel as of January was NIS 914.4 thousand, an increase of 14% compared to the same period last year. The scope of the rate of loans granted in favor of an investment apartment increased by 16%, with the rate of loans taken out in favor of apartments for investment standing at 13%.
In addition, the largest increase in the volume of loan balances compared to last year ranges from NIS 4-2 million to 45%. The volume of balances that are more than 90 days behind in this category increased by 18% compared to the corresponding period last year and amounts to NIS 152 million in January.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment