A European country is moving towards the approval of an economic package .. which provides for the postponement of 7 years of rate of the mortgage

The Spanish government intends to adopt a package of measures to mitigate the effects of high interest rates on borrowers.

Among these measures is the extension of rate of mortgages up to 7 years for over one million families in the class media.

Package Will Provide Home Loan Refinancing Options For Those Affected Over 5 Year Term At Low Interest Rates in a country in where homeowners make up three quarters of the population.

The Spanish economy avoided contraction in the third quarter with 0.2% growth, according to Spain’s national statistical agency.

The country’s economic growth fell sharply from 1.5% in the previous quarter, according to provisional data from the National Institute of Statistics (INE).

The slowdown in growth has been in largely due to the weak performance of the real estate sector, where activity contracted by 2.5% together with the decline in exports and business investment.

However, inflation in Spain has decreased in the last three months, reaching 7.3% in October, according to the National Institute of Statistics.

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