The mortgage market has hit bottom, but it is not expected to go any further. With 7.6 billion euros in housing loans disbursed by banks in January, production reached its lowest level in almost ten years.
The drop in rates has been underway since December after two years of uninterrupted soaring which brought the average rates over twenty years and more from 1% to 4.5%. It remains to be seen at what pace they will continue to decline and whether this will be enough to revive the real estate market.