Although the mortgage market again broke all records in May, corona outliers such as in March and April are over. This is reported by Mortgage Data Network (HDN) on Tuesday, which registers about 82 percent of all mortgage offers in the Netherlands.
The trend has started since August 2019, with the standing record breaking again every month. In May, the total came to around 43,000 mortgage applications, which is 26 percent higher than the monthly average in recent years.
Still, according to HDN, the extremes of March and April are not in May. "Where mortgage applications really went through the roof in March and April, with more than 85 percent higher than normal, we are now back in somewhat calmer waters. The market seems to be stabilizing at the level of the months before the corona crisis," said director Reinier van der Heijden.
Interest rose slightly during the first period of the lockdown in the Netherlands, as a result of which the number of referees rose rapidly. In May this effect diminished, and the share of cross-lenders on the total of different types of mortgage applicants decreased.
The proportion of retirees has also decreased, as has the group of people who buy a new-build house and sell an existing house. However, a percentage increase can be seen again in May among, among others, starters and transfer students.