Milan, Jan. 27 (LaPresse) – Mortgage demand from Italian households, after the depressive phase that marked the 2021-2023 triennium, experienced a positive turnaround in 2024, with an annual average increase of +12.1%. This was reported by Crif, based on data from the EURISC Credit Information System.
Since late 2023, the recovery in mortgage demand has shifted from a negative trend to peaks of 30% in November 2024. In December alone, mortgage applications increased by 25.4% compared to the same period in 2023, marking the third-highest value for the year. This upward trend was supported by a decrease in bank-applied rates, particularly for fixed-rate loans, reflecting the series of ECB rate cuts over the past 12 months.
Additionally, families continued to opt for mortgage refinancing to reduce the burdens of variable-rate loans signed during periods of significant interest rate hikes. In the first nine months of the year, refinancing grew by +19.5%, while new mortgages issued contracted by 4.1%.
In 2024, the average amount requested saw a slight increase (+2.5%) to a total of €148,305. In December alone, the average value remained stable (+1.0%) at €154,021. The most preferred loan range among Italian families remained between €100,000 and €150,000, accounting for 30.6% of the total. This was followed by loans between €150,000 and €300,000 (28.5%), amounts between €75,000 and €100,000 (18.3%), and loans exceeding €300,000 (5.1%).
Over 8 out of 10 families opted for repayment plans exceeding 15 years to ease the monthly family budget burden. Finally, in terms of age demographics, over half of the applicants were aged between 25 and 44, while 32.6% fell within the 45-64 age bracket.
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