According to Equifax, new mortgage demand has decelerated sharply, with year-on-year growth dropping from 10.9% in Q4 2025 to just 3.6% in Q1 2026. This trend suggests that prospective borrowers are becoming more cautious, prioritizing debt management over new loan commitments amid rising interest rates and living costs.
For existing homeowners, this environment underscores the importance of reviewing current mortgage terms. Exploring refinancing options may provide opportunities to secure better rates or loan features, potentially mitigating the financial impact of rising interest rates.
Engaging with financial advisors or mortgage brokers can offer personalized insights and strategies to navigate the evolving mortgage landscape effectively.
Please Note: If this information affects you or is relevant to your circumstances, seek advice from a licensed professional.
