Mortgage lending totaled NIS 12 billion last month, the Bank of Israel reports, the second highest amount of mortgages taken this year, only beaten by the all-time record high of NIS 13.4 billion in March.
The total of new home loans taken in Israel rose in May. Mortgage lending totaled NIS 12 billion last month, 14% higher than in April, according to Bank of Israel figures released today. May saw the second highest total amount of mortgages taken this year, only beaten by the all-time record high of NIS 13.4 billion in March 2022.
The Bank of Israel did not give a breakdown of mortgage borrowers in today’s report but breakdowns from the past few months have indicated that investment buyers have very much reduced their presence in the market.
The relatively low April figure for mortgage taking of NIS 10.5 billion was attributed to the Passover holidays, which reduced the number of business days in the month. Even so, the total for April was unusually high considering that the Passover holiday fell in that month.
Published by Globes, Israel business news – en.globes.co.il – on June 14, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Mortgages credit: Shutterstock