Dutch mortgage applications fall 30% in October

The number of mortgage applications received in the Netherlands fell 30% year on year in October, with a rush of applications in September and higher mortgage rates among the possible explanations, according to figures from industry network HDN.

HDN received 36,652 applications in October. It said the drop followed an “exceptionally busy September”, when advisers submitted applications early to beat interest-rate increases announced by lenders. The organisation said those increases may have contributed to the October decline.

The fall was particularly notable among first-time buyers, HDN said, though it gave no figures for that group. The network registers almost all mortgage applications in the Netherlands.

Most October applications were for home purchases. Nearly 40% concerned refinancing or increasing an existing mortgage.