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Bank of Israel Plans to Increase Competition in Mortgage Market

  • Plans would make it easier and faster to compare mortgages
  • Mortgages have surged this year on low rates, house prices
Property in Tel Aviv, Israel.

Property in Tel Aviv, Israel.

Photographer: Kobi Wolf/Bloomberg

The Bank of Israel wants to make it easier and faster for consumers to get mortgages, moves that are likely to stoke competition between lenders.

The measures are designed to improve transparency and information on repayment costs so that consumers choose the right mortgage, the central bank said in a statement on Sunday.