It was an expected step, although perhaps not as soon since the European Central Bank had already decided to cut interest rates in September, the third time this year. With this new reduction in the price of money by 25 basis points, the official rate stands at 3.25%, at the levels of May 2023.
This interest rate cut accompanies the evolution of the Euribor. In effect, the reference index for mortgages seems to be consolidating its downward trend. It is good news for those who must review their mortgages in the coming weeks or buy a home.
...continue reading "Interest Rate Cuts: How the ECB’s Policy Will Impact The Housing Market"