Effect of mortgage rate reductions

S

Shawady

Registered User
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Not sure if this is the right forum for this, but was wondering if anyone knows approx how much the country has saved by the interest rate reductions in the past 6 months?
The reason I ask is that my mortgage has come down by a couple of hundred euro a month and there are many people out there on bigger mortgages than me. This has helped softened some of the impact of the budget.

The media are reporting that so many billions have been taken out of the economy but am surprised no one is factoring/mentioning the interest rate reductions.
 
My mortgage is down about €500/month (haven't factored in last 2 reductions yet as they are not through on my account). However the household income is down a net amount of over €1800 a month due to pay cuts & tax rises. So there is a much bigger hole than the mortgage rates dropping can fill unfortunately.
 
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