Mortgage applications up 23.4% in the first quarter of 2025

Marnix Hazelhoff

9 April 2025

Reading time 3 minutes

In the first quarter of 2025, the number of mortgage applications in the Netherlands rose significantly. According to data from Hypotheken Data Netwerk (HDN), a total of 142,076 applications were submitted, a 23.4% increase compared to the same period last year. This notable rise is largely attributed to recent interest rate hikes and changes in the housing market.

The interest rate increases

One of the key drivers behind this spike is the increase in mortgage interest rates. While the average rate for a 20-year fixed mortgage hovered around 3.8% in January, it climbed to 4.3% by March. Many buyers and refinancers rushed to secure a deal before rates climbed any higher.

Expectations that the European Central Bank will implement further increases later this year have only added to the urgency.

Refinancing and first-time buyers leading the way

The HDN data reveals that not only first-time buyers are becoming more active, refinancing has also grown. This shows that current homeowners are locking in more favorable terms or securing funding for home improvements and sustainability upgrades.

Interestingly, the number of applications from buyers aged 55 and up has also increased, reflecting broader shifts in financing behavior.

First-time buyers remain a vital group in the market, but continue to face stiff competition from existing homeowners with greater financial leverage.

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Rental property sell-offs shake up the market

Another contributing factor is the wave of rental property sales. Due to new regulations, particularly around mid-market rent control, many investors are choosing to sell. These homes are often listed at relatively competitive prices, especially in urban areas like Amsterdam, Rotterdam, and Utrecht.

This has added a fresh layer of urgency for buyers as well-priced properties sell faster than ever.

What does this mean for house hunters?

In today’s fast-moving market, preparation is key. At SlimBieden, we recommend that buyers approach the process strategically:

Get pre-approved based on today’s interest rates
Understand your financial options so you’re ready to move quickly when the right home becomes available.
Keep an eye on market trends
Policy shifts and rental sell-offs can create unexpected buying opportunities—especially for starter homes.
Use data to guide your offer
In a competitive environment, knowledge is power. Knowing what others are bidding allows you to make a realistic, winning offer.