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7% increase in household debt

7% increase in household debt Mortgages found to account for 69% of all household debt. In the year 2014 total household debt reached record high levels. This was primarily caused by the increase in the price of housing, which incited buyers to take out more mortgages. Figures recently published by Bank of Israel indicate that […]

Lowering of mortgage refinancing fees taking effect

Lowering of mortgage refinancing fees taking effect Starting today, the fee for early loan repayment will now be calculated according to a new banking formula established by the Bank of Israel. This formula benefits mortgage borrowers who are paying higher interest rates than average. Good news for mortgage borrowers: the fee for early loan repayment […]

New mortgage taking increased during month of February

New mortgage taking increased during month of February The number of new mortgages totaled 4.6 billion shekels last month, which amounts to a 5.1% increase in comparison with the 2014 average. The volume of mortgages has increased slightly in February. The Central Bank of Israel has released figures today showing that the number of mortgages […]

Forex Capital Markets Israel: shekel/euro rate sinks further

Forex Capital Markets Israel: shekel/euro rate sinks further According to Forex Capital Markets Israel (FXCM), investors are looking for assets with a higher yield, which are not to be found in the euro at the moment. The shekel has further strengthened against the euro yesterday morning. The shekel/euro exchange rate was 0.79% lower in comparison […]