Febelfin, representing about 90% of Belgium’s new mortgage lending, reported that the total outstanding mortgage credits of its RCC members stood at roughly €300 billion by end-March 2026. In Q1 2026, demand for mortgage credit (excluding refinancings) declined, with 78,000 applications (-8.4%) and a volume drop of about -5.5% to over €16 billion. The release notes that Q1 2025 benefited from a Walloon registration tax cut to 3% and lower interest rates, which boosted comparisons; today, higher long-term rates weigh on demand, though production remains in the top four of the past decade. More than 47,300 new loans were granted in Q1 2026 for over €9 billion. Compared with Q1 2025, lending for home purchases fell about -10.3%, renovations -21.5%, while construction rose +8.5%. External refinancings declined by -23.6%. The average loan amount also fell across most destinations. About 84.5% of borrowers chose fixed or long-term fixed-rate products; ~11.7% selected a variable rate with a 3–10 year initial fixation, ~1.3% a yearly variable, and >2.5% a variable that can only decrease. Rising rates push Belgians toward certainty, and consumer protection rules cap how much a variable-rate loan can increase. Lenders are urged to maintain cautious, responsible lending in line with the regulator to preserve financial stability. All mortgage statistics from 2000–2026Q1 are available under the 'Cijfers' section. Source: Febelfin and NBB.Stat.
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