More mortgages than a year ago

In December of 2009 39.2% more mortgages were approved than in December of 2008. This has been revealed by figures from the Professional Credit Association.

Despite the crisis people are apparently not borrowing less to build or buy a home, is the conclusion of the Credit Association. According to experts in the sector, the explanation is the low interest rates and the government policy to stimulate green investments.

An increase of almost 40% in mortgages given is huge, but it should be mentioned that December of 2008 was an exceptionally poor month for mortgages. The crisis was felt very acutely at that time and people were pessimistic and bracing for the worst.

Compared to December of 2007 the figures for 2009 are also 38% higher. The biggest difference with between December 2008 and December 2009 is the size of the mortgage. The mortgages were about by 46.2% higher in 2009 than in 2008.