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Mortgages Hit Record Levels in July But Started to Reflect the Effects of the ECB’s Upwards Rally

The signing of new mortgages grew by 2.3% in the seventh month of the year, just before the European Central Bank raised interest rates.

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Each new piece of information that is published about the behaviour of the key real estate indicators over the summer reflects the same pattern: the market is in good health but the pace of growth is slowing down more and more.

And the official mortgage data for the month of July is no different. It is the indicator that is most sensitive to the rise in interest rates that the European Central Bank embarked upon at the start of the summer season and which has continued to gain weight as we head into the autumn.

Read the full article in Spanish.

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