Mortgage taking in July 2022 amounted to NIS 10.1 billion, 12% down from July 2021, the Bank of Israel reports.
Mortgage taking in July 2022 amounted to NIS 10.1 billion, 12% down from July 2021, the Bank of Israel reports. Only two months over the past year have seen a lower monthly figure - September 2021 and January 2022.
While the Bank of Israel data does not provide details about the type of deals, it is clear that the small number of housing purchases for investment contributes to the fall. The number of housing deals is significantly down, according to both the Central Bureau of Statistics and the Chief Economist of the Ministry of Finance but to offset this the size of mortgages being taken is increasing. It will only become clear over the coming few months to what extent the rise in interest rates is dampening the mortgage market.
Published by Globes, Israel business news - en.globes.co.il - on August 14 2022.
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