AIB does not expect mortgage rates to fall any further

Brendan Burgess

Founder
Messages
41,421

In relation to mortgage rates in Ireland, which are considered high by European standards, he said that they were unlikely to go lower.

“If you look at where Central Bank rates are, it is nigh on impossible to see them going lower than they currently are. We’ve seen very significant reductions in mortgage interest rates in Ireland the past four or five years.

“Mortgage interest rates are very, very low at the moment. We obviously keep the market under continuous review.” He added that he did not see them going up either.
 

RedOnion

Frequent Poster
Messages
4,597
Another week or 2 before we see CCPC investigate him for price signalling...

I think it's going to be more of the same from here with rates; minor adjustments to specific rates so everyone can say they're cheapest for something, even if it's by 0.1%.

But quite possibly we'll see more distinctions with LTV bands. There's much commentary from the European analysts on how dysfunctional the Irish market is where you have same rates available for all LTV bands. The non-bank lenders are leading on that front as the LTV bands impact their funding.
 
Last edited by a moderator:

HollowKnight

Frequent Poster
Messages
212
A friend of mine works in Aib's Haven and said they are very quiet for mortgage lending at the moment primarily due to their rates being uncompetitive.
So whilst he may say there's no scope to go lower, if they lose enough market share, they will have to (reduce their rates).
 

Dauhee

Frequent Poster
Messages
135
Same signaling comment as came from BOI a while back . . . . before they further lowered rates.
 

sylvin

Registered User
Messages
10
And now 4 months later, they have dropped the fixed rates. The variable rates definitely need attention too.
 
Top