The volume of mortgages granted in 2023 is the lowest since 2019, when the new mortgages amounted to NIS 67.7 billion. The high interest rate in the economy also drove away the buyers of investment apartments from the industry.
In December, the amount of mortgages distributed by the banks in December was estimated at 5.6 billion shekels, the highest in the fourth quarter of 2023. The part of mortgages given at a fixed interest rate and not linked to the index is estimated at 30%, the highest rate since September and the second highest since May 2022.