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German Mortgage Rates Hit Highest Level in Decade on ECB Hikes

Bloomberg business news
Lagarde Says ECB May Hike Rates at Several More Meetings

Mortgage borrowing costs in Germany have surged in recent months to hit the highest level in a decade as the European Central Bank raises interest rates.

The cost of borrowing to buy real estate hit 3.03% in September, according to ECB data published Thursday. That rate is among the highest in the euro area and has more than doubled from a year earlier, when Germany was one the cheapest places in the region to get a mortgage.