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DBRS is looking at the topic of European.....>

EUROPE: DBRS is looking at the topic of European house prices today noting the
following annual growth rates: "Irish (12%), Portuguese (10%), Dutch (10%) and
Spanish (7%) housing markets... The UK is currently facing a challenging
environment with the full impact of Brexit yet to be felt and London showing
preliminary signs of a slowdown. The only country still in decline is Italy as
the Italian housing market, down 1.0% year over-year, has been marginally
negative for several years."
- what does this mean for markets DBRS conclude "Current market improvements are
conducive to strong covered bond and residential mortgage-backed securities
markets as they improve mark-to-market loan-to-value ratios"

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