The ECB has decided to tackle the financial crisis and recession European to take the bull by the horns. Today, Jean-Claude Trichet announced a reduction of 0.75 basis point its main policy rate. Previously reluctant to lower its rates because of inflation, the ECB chose to take a radical position.
So we can assume that in all this, the mortgage should pick up slightly in early next year as long as banks back to business and this impact on their interest rates.
Good news for the housing market. Certainly it will not find the path to higher right now, but it should at least limit the risk of real estate crash.
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