Higher rates drove down Dutch mortgage applications in April

Higher mortgage rates caused Dutch homebuyers and homeowners seeking financing for renovations to apply for fewer mortgages in April, according to figures released by the Hypotheken Data Netwerk, or HDN.

HDN said 40,692 mortgage applications were submitted through its platform in April, down 11 percent from the same month last year. Nearly all mortgage applications in the Netherlands pass through the HDN network.

The organization said rising mortgage rates — with average 10-year fixed rates in the Netherlands now hovering around 4 percent, the highest level in more than two years — made both buyers and non-buyers more cautious. The share of applications from homebuyers fell from 59 percent last year to 57 percent this year.

First-time buyers accounted for much of the decline. They submitted 11,762 mortgage applications, down from more than 14,000 a year earlier. Existing homeowners seeking to move also applied for mortgages less frequently.

HDN said many people rushed to secure mortgages in March because they feared rates would rise further. “Rising tensions in the Middle East and subsequent interest rate increases caused a turnaround,” the organization said.

The data also showed a shift toward more expensive homes. Applications for properties priced above 750,000 euros rose to 14 percent of total applications, up from 12 percent in April 2025. In absolute terms, applications in that category increased from about 5,650 to nearly 5,900.

Homes priced between 300,000 euros and 450,000 euros accounted for one-third of all applications, compared with 36 percent a year earlier.

HDN also reported that the share of applications for newly built homes fell to its lowest level in recent years. The decline, first seen in January, continued in April as new-build homes represented 5 percent of applications, or 2,183 filings, down from 6 percent a year earlier.

Last week, analysts at ING said slightly higher mortgage rates and a “more cautious sentiment” were weighing modestly on demand. The bank forecast that house prices in the tight Dutch housing market would stop rising for the rest of this year after years of record increases.