The number of mortgage applications in the second quarter of this year was no less than 40 percent higher than in the same period last year. The increase was mainly driven by mortgage refinancing for a more favorable interest rate and by people taking out a second loan.
This is evident from figures from Mortgage Data Network (HDN) for April, May and June, which were published on Monday. HDN takes care of the data communication between mortgage advisers and lenders and has insight into more than 80 percent of the market.
In addition to the delinquents and the people who wanted a second mortgage loan, the number of consumers who applied to buy a house also increased by 15 percent to nearly 80,000. “The requests for owner-occupied homes continue to increase, although things are not going as fast as in the first quarter of 2020,” says HDN.
In the first three months of the year, the increase was still 20 percent, compared to a year earlier. The average value for which mortgage applications were made was 380,000. That is an increase of 9 percent compared to last year.
“People are also taking more and more of their own money to buy a home, on average almost 35,000 euros. That is an increase of 2 percent compared to the previous year,” HDN sees in the data.
The average house price was the highest level ever in May, Statistics Netherlands reported last month. The price came to 333,000 euros.
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