15  6  According to the latest ICMA survey of 4 September, the repo market size increased by 3.3% during the last 6 months from EUR 5,499 billion to EUR 5,782 billion. BIS central bankers’ speeches
The likely consequences of these two factors – imminent interest rate resets and the difficulty of refinancing – will be yet higher rates of delinquencies and foreclosures over the next several quarters and, in turn, additional downward pressure on house prices. The overhang of unsold homes also will weigh heavily on the prices of newly built and existing homes.