Polish mortgage refinancing demand hits record amid falling rates

Polish banks reported a surge in new mortgage lending, granting about 130,000 loans in the first five months of the year – roughly 50 % more than a year earlier. A growing share of these mortgages is used for refinancing: about one‑third of new loans, rising to 35 % in April and May, as borrowers replace higher‑rate debt with cheaper financing after a series of interest‑rate cuts.

The BIK Mortgage Credit Demand Index showed a 15.8 % year‑on‑year rise in loan inquiries for June 2026, with 42,830 applicants seeking an average loan of 506,640 zł, a record level. Analysts note that while the month‑to‑month number of applications fell slightly, overall demand remains robust.

Refinancing can lower monthly repayments by several hundred złoty, with potential savings of up to 800 zł per month for many borrowers. The trend reflects consumers’ effort to mitigate the impact of previously high mortgage rates.