70%-100% Increase in Mortgage rates

[peemac]

Seems now with Avant pushing their rates up as per Brendan's thread that their borrowing costs have gone up, with their 10 year jumping 1% which is a significant hike..assume impact of ECB 0.5% hike and others to follow? How much more to follow? As BOI stated that the July ECB increase wouldn't be passed on...

3 years + .3%
4 years or 5 years +.5%
7 years + .7%
10 years or longer + 1%

BOI & PTSB & others said the July increase would not be immediately added - they have plenty of margin to do that.

Markets are looking at ECB of 2% by early 2023 and 2.5% by mid 2023. But forecasting is never an exact art. I expect most will revise all rates when the Sept rate increase is announced and fixed rates could be sooner than that.

 

[Protocol]

I see the point made by this thread.

The ICS rate rise announced today is nearly like a 50% increase:

ICS Mortgages announces increases to interest rates

ICS Mortgages is set to increase its variable interest rates across its owner occupier and buy to let products, effective from October 1, 2022.

www.rte.ie

"ICS said owner occupier variable rates will increase across all Loan to Value (LTV) bands by 1.25%. For example, the rate on an owner occupier variable rate mortgage with an LTV of less than 70% will increase from 2.45% to 3.7%."