The number of new mortgages issued in
Italy is down 40% since the start of the year due to European
Central Bank rate hikes, economic think tank Nomisma said
Wednesday.
"The rise in the cost of money decided by the ECB has translated
into a 40% collapse, since the start of the year, of the
issuance of mortgages for house purchases," it said.
It also sounded an "alert" over families with variable rate
mortgages not being able to meet payments.
"Variable rate mortgages erode 60% of household incomes," it
said.
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