Mortgage taking in Israel fell in June

Mortgages taken in Israel in June 2024 fell slightly compared with May, despite estimates by senior officials in the banking sector, who has forecast another increase in June, sustaining the trend in the previous month. Bank of Israel data published today, showed that mortgages worth NIS 7.74 billion were taken in June, up 18% from June 2023, but down from NIS 7.9 billion in May, when mortgage taking was up 31% compared with April, and up 19% compared with May 2023.

Although the June 2024 figures are higher than June 2023, mortgage taking was still well below the levels of June 2022 when mortgages worth NIS 11.88 billion were taken out. ,p>Another interesting figure in the mortgage data published by the Bank of Israel for June 2024 is the extent of contractor loans used today in many promotions for the purchase of new apartments. In May, the volume of these mortgages stood at NIS 1.29 billion, a figure that was a new record in this respect - and now, in June, it turns out that this volume has risen further, to NIS 1.321 billion. In fact, since the start of 2024, the volume of these loans has been continuously increasing, and over the course of these six months, an increase of almost 70% was recorded in the volume of contractor loans.

Published by Globes, Israel business news - en.globes.co.il - on July 11, 2024.

Mortgage taking in Israel fell in June

Mortgage taking last month fell slightly from May but was 18% higher than June 2023, the Bank of Israel reports.