19:40 18 November 2025
NBP: demand for housing loans will maintain until Q2 ‘26
The National Bank of Poland expects strong demand for housing loans to continue through Q2 2026, driven by the interest rate cuts introduced in May 2025. After recovering to 7–9% y/y growth in recent quarters, mortgage lending is forecast to stabilize at around 7% y/y in the near term. From late 2026 onward, slower economic growth will begin to weigh on demand, gradually reducing mortgage growth to 4% y/y by Q4 2027.
According to NBP projections, housing loan growth will reach 6.97% y/y in Q4 2025 and 5.25% y/y in Q4 2026, marking a steady but moderating trend as economic momentum cools.
