.In 2021 and 2022 (especially the first half of the year) there has been high growth in the mortgage market due to the existence of accelerating levers in this market: savings accumulated during the pandemic, change in consumer tastes (houses, flats with terraces…) and very low interest rates.
The reduced intensity of these levers means that, in 2023, the market will indeed have shrunk. At the end of 2023, the volume formalised in 2022 will have been reduced by approximately 20%, although it is important to note that in 2022 the market growth was abnormally high. T
hat said, the good accumulated savings ratio, the low household debt ratio, the health of the financial sector and the good momentum of the labour market are ensuring that the mortgage market continues to be a solid and healthy market, both from the point of view of the sector and of the mortgagors’ ability to pay. A cumulative reduction of approximately 20% is estimated for 2023.