The public took NIS 4.45 billion in new mortgages in May.
The public took NIS 4.45 billion in new mortgages in May 2014, up from NIS 3.98 billion in April (which had reduced business days because of Passover), and NIS 4.47 billion in March, the Bank of Israel reported today.
Variable interest mortgages totaled NIS 2.55 billion in May, and fixed-rate mortgages totaled NIS 1.89 billion.
In late May, the Central Bureau of Statistics reported a 6% drop in housing starts in the first quarter of 2014 compared with the preceding quarter and 16% fewer than in the corresponding quarter of 2013. First quarter housing starts were the lowest in five quarters. It also reported that there were 9% fewer home sales in April than in March, and 15% fewer than in April 2013.
Published by Globes [online], Israel business news - www.globes-online.com - on June 11, 2014
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