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Strong demand for mortgages | eKathimerini.com

Demand for home loans continues unabated after the January-June semester. After the long lull so far, households are scrambling to meet their housing needs while securing the long-term low fixed interest rates that apply today.

Investing in real estate is not only a timeless feature of the Greeks, but also a safe haven during periods of high inflation, when interest rates on deposits remain near zero and disposable income is eaten up. This is why households are turning to buying or investing in the real estate market to protect their savings over the long term.

According to Kathimerini, demand for mortgages rose 8.3% in July, maintaining a six-month high. Mortgage applications rose to 3,900 from 3,600 in July 2021, following an increase in demand recorded in the first half, while new loan applications also increased by 8.3%, up from 24,000 in the same period last year. Reached 26,000.

New mortgage loans issued by banks in July rose to €95 million, up from €88 million in the same month last year, recording a 7.9% increase, compared with €438 million in January, the seventh month’s New disbursements amounted to €645 million. -July 2021.

Prior to the release of the second quarter results and the need to improve performance in new lending, a key area of ​​competition for the second quarter and beyond, banks rushed to approve applications received the previous month. new payments soared to €130 million. Reduction of bad debts. Notably, his spending in the first half of this year jumped to 550 million euros, an increase of 57.1%.

Strong demand for mortgages has been fueled by the fact that the ECB’s key interest rate hike has yet to be reflected in new loan disbursements, banking sources said.



https://www.ekathimerini.com/economy/1192330/strong-demand-for-mortgages/ Strong demand for mortgages | eKathimerini.com

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