Central Bank’s latest retail interest rate figures show fixed-rate contracts constitued two thirds of mortgage contracts agreed in May
The number of new buyers here opting for fixed rates has risen sharply in recent years, according to the Central Bank.
The Central Bank’s latest retail interest rate figures show fixed-rate contracts constituted two thirds of mortgage contracts agreed in May.The number of new buyers here opting for fixed rates has risen sharply in recent years. Back in 2014, fixed-rate products accounted for just 10 per cent of Irish home loans.Aer Lingus pilots seeks clarity on Labour Court proposal
The regulator’s latest data showed the average interest rates charged on new mortgages in the Republic fell by 7 basis points to 4.17 per cent in May, leaving mortgage rates at their lowest level in nine months. “The fall in the average interest rate on new mortgages will be a relief to house hunters, particularly given that the average rate is now the lowest it has been since August 2023,”“Despite this, house hunters should bear in mind that recent signals from the European Central Bank suggest that following its June rate cut, the ECB is in no major hurry to cut interest rates again,” he said.
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