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credits. Market crash. The creditworthiness of the Poles has collapsed

credits.  Market crash.  The creditworthiness of the Poles has collapsed

“The value of the BIK Index of Housing Loans Demand (BIK Index – PKM) indicates the annual dynamics of the value of housing loans demanded. The value of the index means that in July 2022, for each working day, Banks and credit unions sent inquiries to BIK for home loans for 66.8 percent less. Compared to July 2021– It was written.

The mortgage market is shrinking

The average value of the required home loan in July amounted to 339.8 thousand PLN. PLN was lower by 1.7 percent. In terms of value from July 2021 and 0.3% lower. than it was in June 2022.

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See also: “Fog covid” as a reason for not repaying the loan. What else do debtors bring in?

BBK asserts that the significant downturn in the mortgage loan market is linked to a drop in demand, and thus to a lower number of loans granted. Marius Chuliwa, President of BIK, points out that this situation is mainly affected by The creditworthiness of Poles continues to declineConnected with rise interest rates (Since July, the reference rate is 6.5 percent.).

despite The quality of housing loans is still at a very high level, and we have been seeing it deteriorate for two monthsmeasured by the quality index of the housing loan portfolio, which we use as a component of the early warning system – admitted Mariusz Chuliwa in an interview with Rzeczpospolita.

January forecast will go to the basket. Nobody expects that

January forecast that the value of home loans granted will decline 9.8% year-on-year. Up to 80 billion PLN is no longer available. Now the specialists assume A decrease in value of 40.4 percent.

Indicator BIK index – PKM is calculated for each working day, excluding inquiries about housing loans for amounts exceeding 10 million PLN and inquiries about the same customer in the next 90 days. The index is published monthly, and its index methodology was developed by the Credit Information Bureau in cooperation with the Institute for Economic Development of the Warsaw School of Economics.

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