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Home News Netherlands

Fewer new mortgages agreed in July as interest rates rise

by Francesco Mazzagatti
August 2, 2022
in Netherlands
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Photo: DutchNews.nl

Just under 29,000 new mortgages were agreed in July, down 36% on the same month in 2021, according to figures from the mortgage data network HDN.

The number of new mortgages also fell in the preceding months, as mortgage interest rates rose.

The biggest decline was in remortgaging, where the number of new deals fell by 72%. Last year many home owners took advantage of record low interest rates by agreeing a new deal.

House prices increased by 11% in the year to June, suggesting the market is cooling after hitting the 20% mark at the turn of the year.

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

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Source: Dutch News

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