Fall in interest rates should increase demand for real estate

There has been reports that the Bank of Israel has abridged the standard interest rate twice in an effort to stop the appreciation of the shekel, the currency of Israel. Just this February it lessened from 4.25% to 3.75%, and on the latest news indicates that it was reduced to 3.25%.  This notable fall of interest rate is seen as an indicator to a probable rise in demand for real estate.  Mortgages may be seen to have performance boosts as people will find easier payment schemes, re-negotiations.  New mortgage applications may rise, affecting real property sale performance, country wide.  However, the question still is “will this have far-reaching effects on the country’s economy?”.  It is yet to be seen, but hopes … are still high.