The collapse of the mortgage market. The worst since the April 2020 pandemic

  • The fall in the value of mortgage applications is the largest in 13 years
  • The number of applications in April this year is one of the lowest in recent years
  • The average expected loan value also begins to decline
  • The reasons for the deteriorating situation are higher interest rates and stricter regulations
  • Other analyzes of this type are available on the Onet home page

The home loan demand index, calculated by the Credit Information Bureau, fell 38.8% in April. Every year. This is the biggest drop since April 2009. The main reason for the fall in the index is the drop in the number of people applying for a mortgage. In April this year, only 28.42 thousand were submitted. requests compared to 51.58 thousand. a year earlier, which means a drop of 44.9%. Compared to March 2022 (which was almost a peak year and resulted in an unprecedented monthly increase in applications from February of 75%), there were up to 46.8% fewer applications in April .

In April, applications for mortgages worth nearly 40 percent.  less than a year ago.

In April, applications for mortgages worth nearly 40 percent. less than a year ago.

April’s number of mortgage applicants (28.42 thousand) is one of the worst readings in the last decade, is only slightly higher than that of April 2020 marked by the pandemic (27.8 thousand). The average value of the home loan applied for is also starting to drop. In April, it amounted to 353.95 thousand. PLN and was 3.2 percent. lower than in March, when it was the highest in history (365.7 thousand PLN). Compared to April 2021, the average amount increased by 5.7%.

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