Mortgage reject rate for housing loans reached 44.9% in H1 2026, up from 39.8% a year earlier, with mid and upper-range homes hit hardest (over 7m baht at 35.7%, up 9.4 points). Developers report transfers slowing and "self-rejection" (buyers dropping out) rising to 40-50% of cancelled transfers. Industry backlog is about 185 billion baht. If you supply, subcontract or lend to property developers, check their payment terms and cash position; if you sell to home buyers, expect longer approval times and plan for buyers who fail credit checks.