The big excitement this week in Israel is over Lag B’Omer, which is always a key event for school children and teenagers. It takes place on Monday evening and Tuesday.
Below is our weekly update, if you want to jump to a section, click here:
Here is your latest mortgage news…
Mortgage market brief:
Mortgage Rates unchanged: 30 year fixed; 4.70-5.20%, 10 year fixed; 5.20 – 5.60%
Interest Rates mixed: 5 year NIS⬆3.73%, 3 month US$ ⬇5.04%
FOREX/NIS: USD; 3.64, EUR; 4.02, GBP; 4.60
Prime Mortgage Rate: 6.00%
Israel Real Estate News
Apartments sold and rented (Globes)
5 top mortgage tips
-Having an appraisal prior to signing a contract is highly recommended, as it may effect mortgage eligibility.
– Whilst a client’s tax return may indicate little or no income, that does not automatically disqualify them for a mortgage.
– A mortgage approval can be tied to almost any purchase, and can therefore be obtained prior to choosing a specific property.
– Mortgage approvals can take as little as a few days, while funding the mortgage requires a minimum of 60 days.
– Prepayment penalties may be applicable to Israeli mortgages. There are methods of minimizing the impact.