Brendan Burgess
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Irish mortgage rates: mind the gap with rest of euro area
A good editorial following up on their report last week.
Does the Irish variable rate mortgage market now offer good value to consumers when compared with other euro zone countries? Certainly not. And that is why MEP Brian Hayes has called on the newly established Competition and Consumer Protection Commission (CCPC) to investigate why the cost of variable home loans is so much higher in [broken link removed] than in other euro area countries. Here the average standard variable mortgage rate is 4.26 per cent, the euro zone average rate is 2.47 per cent, while the official interest rate set by the European [broken link removed] (ECB) now stands of 0.5 per cent - its lowest ever.
A good editorial following up on their report last week.
Does the Irish variable rate mortgage market now offer good value to consumers when compared with other euro zone countries? Certainly not. And that is why MEP Brian Hayes has called on the newly established Competition and Consumer Protection Commission (CCPC) to investigate why the cost of variable home loans is so much higher in [broken link removed] than in other euro area countries. Here the average standard variable mortgage rate is 4.26 per cent, the euro zone average rate is 2.47 per cent, while the official interest rate set by the European [broken link removed] (ECB) now stands of 0.5 per cent - its lowest ever.