Mortgage taking in Israel fell to NIS 6.357 billion in January 2023, down 36% from January 2022, the Bank of Israel reports. Even so the scale of mortgage taking is still relatively high within the context of recent years. The amount of mortgages taken last month was similar to the figure in January 2021 and 5% higher than January 2020. Mortgage taking in Israel in 2022 totaled a record NIS 117.6 billion, up 1.3% from 2021, which was itself a record year, the Bank of Israel reports. Last year's mortgage taking figure was double that of 2018. RELATED ARTICLES Mortgage market retreating fast Just keep buying: Gindi, Leumi team on homebuyer finance Finance minister sees imminent home price drop Lower mortgage taking since interest rates starting rising from April 2022 is rapidly cooling off Israel's housing market in terms of the number of apartments being bought. According to the Central Bureau of Statistics, since September 2021 the number of apartments being sold is falling by 4% each month. Published by Globes, Israel business news - en.globes.co.il - on February 12, 2023. © Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
