Mortgages Soar in December

Banks extended some NIS 4.66 billion in home loans in December, bringing the 2012 total to NIS 46.64 billion - 4.25% more than in 2011.

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The value of new mortgages approved by the country's banks was 24% higher in December than the monthly average for the year, the Bank of Israel reported on Sunday, reinforcing concerns that the housing market...