The volume of mortgages rose slightly in February. Figures published today by the Bank of Israel show that the volume of mortgages in February totaled NIS 4.6 billion, 1% higher than in January.
Although the volume of mortgages in February was far below the NIS 5.5 billion total in December 2014 (when the 0% VAT plan was dropped, and buyers flocked to the real estate agents), it is 5.1% more than the monthly average in 2014.
NIS 2.44 billion, amounting to 53% of the February mortgages, were at fixed interest, owing to the rock bottom interest rate, and the rest were at variable interest.
The trend reversed in October 2014,when total mortgages at fixed interest first outstripped total mortgages at variable interest, and the gap has since widened.
Published by Globes [online], Israel business news - www.globes-online.com - on March 11, 2015
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