(Finance) – Slow down the mortgage marketwere it not for the under 35s who enjoy discounts for the purchase of their first home, while loans continue to do well personal and those aimed at the purchase of goods. This is what emerges from the last CRIF Observatory relating to the month of May.
The mortgage applications real estate registered a drop of 16.8%, partially offset by the strong demand from young people under 35which arrive go up to 35.4% of the total (they were at 34.9% last month). The decline is attributable to the sharp downsizing of subrogations, in a context of rising rates.
As for loans there is one overall growth of 23.3%. Specifically, the requests for targeted loans to the purchase of goods and services (such as cars, motorcycles, electronics and furniture items, etc.) have registered a + 23.8% rcompared to the corresponding period of 2021. A substantially mirrored trend for i personal loanswhich score a + 22.4%. A trend favored by the increase in requests addressed to digital credit platforms. In May, digital demand recorded an overall + 163% compared to the same period of 2021, with Generation Z leading the way with + 321%. Baby Boomers (+ 163%) and Millennials (+ 154%) are also growing.
“The demand for real estate mortgages is affected overall by the slowdown in subrogations, which only in the first three months of the year decreased by 56% compared to the corresponding period of 2021. Despite the increase in interest rates, the sector remains driven by requests of young people who are approaching the purchase of a property for the first time, facilitated by state incentives linked to age and green mortgages “, explains Simone CapecchiExecutive Director of CRIF.
The average amount required for mortgages it is attested to 146,909 euros, up 5.6% compared to 2021., with a preference for repayment plans more diluted over time (83.8% of requests for a duration of more than 15 years). The average amount of personal and finalized loans, on the other hand, amounted to € 8,949, down by 5.5% compared to May 2021. Specifically, the average amount requested drops more for targeted loansthat drops to 6,379 euros (-11.5% compared to the corresponding 2021 survey), while for personal loans the value stands to 12,834 euros (-0.1%).