Fewer mortgage applications, higher interest rates | Money

In April, just over 54,000 mortgage applications were submitted, 16% less than in March. Mortgages Data Network (HDN) reports this. It is still more than the average number of 2021: 45,000 per month.

A record 191,000 applications were processed in the first quarter of this year. Many homeowners wanted to take advantage of the low interest rates by refinancing. HDN processes approximately 85% of all mortgage applications.

Interest above 3%

That interest is rising fast, signals mortgage advice chain Van Bruggen. The popular 10 and 20 year fixed interest rates are already back at the level of March/April 2015. This is mainly due to the sky-high inflation. To fix the mortgage interest for 20 years, you already pay more than 3% interest with NHG on average. With a 10-year fixed contract with NHG you pay an average of about 2.6%.

In addition to interest rates, house prices are also still rising compared to a year earlier. The average mortgage at HDN was €361,000 in April. In 2021 that was still €347,000.

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