Thursday, 7 May 2009

More good news from the European Central Bank

The European Central bank has today announced a further rate drop of 0.25%, to bring the main refinancing operations rate down to 1%. This reduction will knock about €12.50 per month per €100,000 off a 25 year mortgage IF your lender passes the cut on in full.

It won't, of course, do anything for you if you're in a fixed rate.

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