Higher mortgage payments will hurt eurozone consumption for five years, even after the ECB cuts interest rates.
Raluca Ioana Draghici
Economy
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A study by the European Central Bank shows that rising mortgage payments will continue to affect consumption in the euro area until 2030, despite interest rate cuts. Even though the ECB has cut interest rates eight times since June 2024, higher borrowing costs will affect households, especially those on lower incomes. Almost 25% of euro area households have mortgages, and 20% of these will feel the impact of interest rate changes by 2030.
Sources
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