The total amount of mortgages in June amounted to NIS 6.535 billion - 45% decrease

The total amount of mortgages that the banks granted to the public in June of this year amounted to NIS 6.535 billion - a negligible increase compared to the previous month, which amounted to NIS 6.517 billion, but a 45% decrease compared to June of last year - according to data from the Bank of Israel published on Tuesday.
Since the beginning of the year, the public has taken out mortgages for an aggregate amount of NIS 36.5 billion. This is a decrease of about 47% compared to the corresponding period of the previous year.
Earlier this week, the Monetary Committee of the Bank of Israel decided to leave the interest rate unchanged at 4.75%. The background for the decision is apparently the slowdown in the rate of inflation, which reached a level of 4.6% in May. The interest rate is the main cause of the stagnation in the housing market today.