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German Mortgage Growth Falls Below 4%

German mortgage growth fell to 3.8% in April 2023. This is the first time in more than five years that it has fallen below 4%, and the sharpest decline in growth on record. At the current pace, mortgage growth will fall below the long-term average of 2.7% year-on-year in July 2023.

 
20042006200820102012201420162018202020220.00%2.00%4.00%6.00%
YoYØGerman Mortgage GrowthFalls Below 4%  Mortgages, Germany, Volume, Stock, by Month, Δ 1 Year, in %Source: BC Banks Data, Barkow Consulting3.8%Rising Interest Rates