After the ECB’s first interest rate cut, mortgage debtors were left feeling pessimistic about their financial future. Christine Lagarde did not provide any hope for relief and it seemed like there was no end in sight. However, amidst the interest rate despair, there was a glimmer of hope. People were no longer holding back from taking out loans due to fear or hopelessness.
Last year, fear of rising interest rates caused people to delay making loan decisions, but this year, expectations have stabilized and interest rate fluctuations have decreased. This has led to a gradual easing of financing conditions, making it easier for borrowers to calculate their costs. With the expectation that Euribor rates will remain around three percent, now may be a good time to borrow.
The stability of expectations globally has also improved risk-taking behavior, as seen in the record-high readings of US and European stock indices. The strengthening of purchasing power in Finland, along with the growing economy in the euro area, suggests a positive outlook for economic growth. With increased consumer confidence and potential asset value appreciation, now may be the time to make acquisitions.
As the summer holidays come to an end, there is hope that Finland will no longer be afraid of the future and will start living again. This shift in mindset, along with improved financial conditions and global economic stability, bodes well for the country’s economy. It is a time for consumers and investors to take advantage of the opportunities available and move forward with confidence.
