Evolution of mortgage credit in August 2020
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The number of credit applications increased by just over 11% in August 2020 compared to August 2019. The corresponding total amount of these applications was also 25% higher.
In August 2020, the number of granted loans decreased by 19%. In terms of amount, almost 16% less credit was granted than in August 2019.
These figures are based on the mortgage credit barometer of the Professional Association of Credit (BVK).
To track the evolution of mortgage credit more quickly, the Professional Association of Credit (BVK) has been compiling a mortgage credit barometer since the beginning of 2009. This barometer provides a monthly overview of the evolution of the number and volume of newly granted and requested mortgage credits for the past month, in comparison to the same month of the previous year. The mentioned percentages pertain to nearly the entirety of the BVK market of mortgage credits. The underlying absolute figures are released on a quarterly basis through a press release by Febelfin.
Credit applications
The following chart shows the evolution of credit applications, in amount and number, for the past twelve months. The monthly figures are compared with those of the same month in the previous year.
In August 2020, the number of applications for a mortgage loan increased by just over 11% compared to August 2019. In terms of amount, there was also an increase of 25% compared to last year.
The increase in the number of credit applications occurred in all areas: credits for the purchase of a home (+9.5%), for the construction of a home (+6.5%), for home renovations (+4.3%), and for purchases with renovations (+18%). The number of external refinancing applications also increased (+24.5%).
Granted mortgage credits
The following chart shows the evolution of granted mortgage credits, in number and amount, for the past twelve months. The monthly figures are compared with those of the same month in the previous year.
In August 2020, the number of granted mortgage credit agreements was just over 19% lower than in August 2019. The corresponding credit amount also decreased by just under 16%.
In August 2020, the number of granted mortgage credit agreements was just over 19% lower than in August 2019. The corresponding credit amount also decreased by just under 16%.
The decrease in the number of granted credits occurred in almost all areas: credits for the purchase of a home (-27%), for the construction of a home (-29.5%), for purchases with renovations (-24.6%), and for home renovations (-10.5%). Only external refinancing (+7%) saw an increase.