New mortgages down by 20% in Q4

The number of new mortgages dropped by 20% in the fourth quarter of 2008, according to figures released on Wednesday by the land registry office (Kadaster).

In total, 114,000 new mortgages were signed in the last three months of 2007 but that fell to 88,000 in the same period of 2008.
The province of Friesland did the worst with a fall of 30%. Utrecht scored best with a drop of 15%.

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