The Bank of Israel has published figures showing that Israelis took NIS 4.55 billion in mortgages in May, the largest monthly total this year. The total is still 3% less than the average for the past 12 months and 15% less than in May 2016. The average mortgage interest rate dipped slightly in May. The average rate on index-linked mortgages was 3.74%, compared with 3.88% in April, while the average rate on unlinked mortgages was 4.31%, compared with 4.39% in April. RELATED ARTICLES "Mortgage figures may not herald price drop" Mortgage rates rise halts March mortgages estimated at NIS 4.3b Mortgages taken in the first quarter of 2017 totaled NIS 13 billion, compared with NIS 12 billion in the preceding quarter and NIS 15 billion in the corresponding quarter last year. According to revised Central Bureau of Statistics figures, housing prices rose 4.4% over the past year, a slower pace than in the last decade, but still a substantial increase. Published by Globes [online], Israel Business News - www.globes-online.com - on June 25, 2017 © Copyright of Globes Publisher Itonut (1983) Ltd. 2017
