Irish mortgages remain far more expensive than EU average
Central Bank says average Irish mortgage rate is 3.49% compared with 1.82% across EU
http://www.irishtimes.com/business/...-far-more-expensive-than-eu-average-1.2785503
Central Bank says average Irish mortgage rate is 3.49% compared with 1.82% across EU
http://www.irishtimes.com/business/...-far-more-expensive-than-eu-average-1.2785503
According to the regulator the rate on all new variable rate mortgages was 3.11 per cent in July 2016.
While this has fallen by 23 basis points over the past twelve months, it is still far higher than the equivalent euro rate of just 1.82 per cent.
When the impact of renegotiated mortgages is excluded, the average rate on new mortgages is considerably higher at 3.49 per cent in July, although this is also falling, down by 28 basis points in the year.
Standard variable rate mortgages, which can be as high as 4.5 per cent at [broken link removed] for example, decreased the most, falling by 53 basis points.
Fixed rate mortgages over one to three years declined by 26 basis points. Fixed rate mortgages accounted for just over 40 per cent of all new mortgages taken out on a family home in the second quarter.