Brexit could have a detrimental impact on and fragment the EU’s major funding channels. From the point of view of financial market efficiency, financial market integration, financial stability, but also real economic development, a scenario such as this is clearly harmful. Initiatives are therefore needed. The most far-reaching objective would be to strive for a globally significant financial market in continental Europe.
So it is not as though the increases in mortgage rates are compounding the effects of a serious deterioration in economic conditions overall. Could the “shock” value of the rises in mortgage rates itself lead to a significant change in that trend, gentle as it is, of improvement?