Homebuyers and people financing renovations applied for fewer mortgages last month, according to the Mortgage Data Network (HDN). Rising mortgage interest rates made many applicants more hesitant.
In April, HDN recorded 40,692 applications, an 11 percent drop compared with a year earlier. The share of buyers fell from 59 to 57 percent. First‑time buyers submitted 11,762 applications, down from more than 14,000 last year. People moving to a new home also applied for credit less often.
HDN says many rushed to secure a mortgage in March because they feared rising rates. The organisation links the shift to tensions in the Middle East and subsequent interest rate increases. It also sees a change in price categories: applications for homes above 750,000 euros rose to 14 percent, while the share of homes between 300,000 and 450,000 euros fell to one‑third.
New‑build applications dropped to 5 percent (2,183 applications), the lowest level in years. ING analysts said last week that higher rates and cautious sentiment are cooling demand. They expect house prices to stabilise after years of record growth. Real estate association NVM also reported a sharp fall in sales in the first quarter.
@ANP | News Brainport
