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HDN: MORTGAGE REFINANCE HAS INCREASED SUBSTANTLY

The number of mortgage applications rose by 11% in the third quarter compared to the same period in 2018. This is mainly due to the group of consumers who refinanced their mortgage (+23%).

Among movers and first-time buyers, mortgage applications rose by 2.4% and 3.7% respectively in the past quarter. The group of movers with NHG (National Mortgage Guarantee) in particular grew (+11%) due to the relaxation of the NHG threshold to €290,000. Starting in 2020, the NHG threshold will be raised again to €310,000. Mortgage Data Network also sees a sharp increase in the number of first-time and movers in Flevoland (+20%), Groningen (+10%), and North Holland (+9%). Flevoland's popularity appears to be due to its affordability. For example, the average home value of a mover is €145,000 less than in the neighboring provinces of North Holland and Utrecht. However, the average home value in Flevoland did increase by 8.2%, which is considerably higher than the 3.9% increase in North Holland and Utrecht.

Source: rechtennieuws.nl

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