Israelis took mortgages totaling NIS 6.25 billion in August, the Bank of Israel reported on Friday. This is 6% less than in July, when the public took mortgages totaling NIS 6.6 billion, nearly an all-time record, but a huge 51% leap compared with the NIS 4.1 billion in mortgages taken in August 2014.
Mortgages at fixed interest totaled NIS 3.2 billion, and mortgages at variable interest totaled NIS 3.05 billion.
The Bank of Israel also reported that the mortgage figures for August included NIS 226 million under the program for encouraging mortgage refinancing for those eligible.
An all-time total mortgage record of NIS 7 billion was set in June, compared with NIS 5.7 billion in May. Many buyers hurried to make their apartment purchases before the purchase tax hike for real investors initiated by Minister of Finance Moshe Kahlon took effect.
Published by Globes [online], Israel business news - www.globes-online.com - on September 16, 2015
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