Evolution of mortgage credit in May 2020
22 June 2020 - 3 min Reading time
The number of credit applications in May 2020 decreased by almost 36% compared to May 2019. The corresponding total amount of these applications was also 30% lower.
In May 2020, the number of granted loans decreased by just over 9%. However, in terms of the loan amount, only about 1% less credit was granted than in May 2019.
These figures are based on the mortgage credit barometer data from the Professional Association of Credit (BVK).
Om de evolutie van het hypothecair krediet sneller te kunnen volgen, stelt de Beroepsvereniging van het Krediet (BVK) sinds begin 2009 een hypothecaire-kredietbarometer op. Deze barometer geeft elke maand de evolutie weer van het aantal en volume nieuw toegekende en aangevraagde hypothecaire kredieten van de voorbije maand, in vergelijking met dezelfde maand van het voorgaande jaar. De vermelde percentages hebben betrekking op omzeggens de totaliteit van de BVK-markt van hypothecaire kredieten. De onderliggende absolute cijfers worden op trimestriële basis vrijgegeven via een persbericht van Febelfin.
Credit applications
The following chart illustrates the evolution of credit applications, in terms of both amount and number, over the past twelve months. Monthly figures are compared to those of the same month in the previous year.
In May 2020, the number of applications for a mortgage loan decreased by almost 36% compared to May 2019. In terms of the amount, there was also a 30% decrease compared to the previous year.
The decline in the number of credit applications occurred in all areas: loans for home purchases (-42%), loans for home construction (-31%), loans for home renovation (-28.5%), loans for purchase with renovation (-32.5%), and loans for other real estate purposes (-38%). The number of applications for external refinancing also decreased (-24.5%).
Granted loans
The following chart illustrates the evolution of granted mortgage loans, in terms of both number and amount, over the past twelve months. Monthly figures are compared to those of the same month in the previous year.
In May 2020, the number of granted mortgage credit agreements was slightly more than 9% lower than in May 2019. The corresponding loan amount decreased only slightly, by nearly 1%.
The decline in the number of granted loans occurred in almost all areas: loans for home purchases (-15%), loans for home construction (-14%), loans for purchase with renovation (-3.5%), and loans for home renovation (-11%). Only external refinancing loans saw an increase (+27%).