Evolution of mortgage credit in February 2019
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The number of loan applications increased by 2.3% in February 2019 compared to February 2018. The corresponding total amount of these applications was more than 7% higher. In February 2019, the number of granted loans increased by almost 8%. In terms of amount, 12% more credit was granted than in February 2018.
These figures are based on the mortgage credit barometer data from the Professional Association of Credit (BVK)
To better track the evolution of mortgage credit, the Professional Association of Credit (BVK) has been compiling a mortgage credit barometer since early 2009. This barometer provides a monthly overview of the changes in the number and volume of newly granted and requested mortgage credits for the previous month, compared to the same month of the previous year.
The mentioned percentages pertain to nearly the entirety of the BVK mortgage credit market. The underlying absolute figures are released on a quarterly basis through a press release by Febelfin.
Loan applications
The following chart shows the evolution of loan applications, in amount and number, for the past twelve months. The monthly figures are compared to those of the same month in the previous year.
In February 2019, the number of applications for a mortgage loan increased by 2.3% compared to February 2018. In terms of amount, there was also an increase of just over 7% compared to the previous year.
The increase in the number of loan applications occurred in the areas of loans for the purchase of a home (+7%), for purchases with renovation (+31%), and for other real estate purposes (+22%). The number of loan applications for home construction (-7.5%) and home renovation (-4.8%) decreased, as did the number of applications for external refinancing (-14%).
Granted Mortgage Loans
The following chart illustrates the evolution of granted mortgage loans, in number and amount, for the past twelve months. The monthly figures are compared to those of the same month in the previous year.
In February 2019, the number of granted mortgage loan agreements was slightly less than 8% higher than in February 2018. The corresponding loan amount also increased by about 12%.
The increase in the number of granted loans occurred in all areas: loans for the purchase of a home (+8.7%), for home construction (+4%), for home renovation (+3.5%), for purchases with renovation (+30%), and for external refinancing (+11.7%).