June: Public borrowed NIS 11.588 billion mortgages - a jump of about 93% compared to last year

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by Ifi Reporter Category:Real Estate Jul 11, 2021

According to data from the Bank of Israel, in June the public borrowed NIS 11.588 billion. This is a jump of about 93% compared to June last year, when only last month (May) broke an all-time record when mortgages were taken out in the amount of NIS 9.47 billion.
Since the beginning of the year, the public has taken out mortgages amounting to NIS 51.7 billion, and assuming that mortgages continue at a similar rate, the public will take out mortgages worth more than NIS 100 billion this year, with an all-time high of more than NIS 78 billion broken last year. .
The average annual multi-year mortgage taking since 2011 is about NIS 4.8 billion a month, and the average for the last two years has been about NIS 6.07 billion a month - so even in relation to the average the public continues to increase mortgage taking, and with it of course - its personal risk.
By the way, until recently the peak of mortgage mortgages prior to a single month belonged to "Corona Month" - March 2020, when the public took an all-time record of about NIS 8.67 billion. March 2021 amounted to NIS 8.6 billion in the third month of mortgages. Last month - this record was broken with NIS 9.47 billion in mortgages, and now it has been broken once again with NIS 11.588 billion a month.
In terms of the scope of taking out mortgages, look at the numbers: in 2012, the public took out NIS 46.6 billion in mortgages, in 2013 the number jumped to NIS 51.7 billion (an increase of 10%). In 2014, stability was recorded and the public took out NIS 51.6 billion in mortgages. In 2015, the public already took NIS 64.7 billion (an increase of 25% per year). In 2016, there was a decrease and the public took out NIS 58.9 billion in mortgages (a decrease of 9%). In 2017, another decrease was recorded and the public took out NIS 52.9 billion in mortgages (an additional decrease of 10%.
 Since 2018 the trend is up again - and significantly. In 2018, the public took out NIS 59.6 billion in mortgages (an increase of 12%), NIS 67.6 billion (an increase of 13%) in 2019, and in 2020 NIS 78.1 billion in mortgages (another 15.5% jump).
In total - from 2012 to 2022, mortgages have jumped by 67%, and if this year an additional record of NIS 100 billion is broken, then it is a jump in taking out mortgages in less than a decade of 114%.

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