Netherlands 30 year mortgage interest rates drop below 3 percent

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The interest rate in the Netherlands for a mortgage with a fixed term period of 30 years dropped below the 3 percent mark for the first time, the Hypotheekshop announced on Tuesday. On average, the interest rate for a 30 years fixed interest mortgage is now 2.99 percent, the Telegraaf reports.

That means that the average 30-year rate is now at the same level as the 5-year rate was in 2014, and as the 10 to 20-year rate was in 2015.

According ot the Hypotheekshop, the fact that the longest mortgage interest rate is now at the same level as shorter rates, is indicative of "the enormous impact" of the European Central Bank's debt buying program on interest rates.