In the third quarter of 2015, the US economy grew less than previously expected, according to new estimates published by the US government yesterday. The US economy grew by 2.0% annually according to this new estimate by the US government. The economic growth was previously estimated to be 2.1%.
Next year the Dutch industry will profit from the economic upturn, according to economists of ABN AMRO. Due to the expected stabilization of commodity prices selling prices will decline less next year. The bank estimates a production growth of 2.5% in 2016.
The average interest rate for ten-year term mortgages has fallen to just under 2.3%, according to recent figures of Dutch mortgage providers. The mortgage interest rate reduction is the result of the expansionary monetary policy of the European Central Bank (ECB). Furthermore, banks are facing growing competition from pension funds and insurers regarding the mortgage lending business.
The 6M Euribor remained unchanged at -0.04%. The 10Y Swap increased with 6 basis points to 0.98%.
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