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IMA

Irish mortgage rates fall to lowest level in a year

New figures from the Central Bank today show that Irish mortgage rates fell to their lowest level in over a year in September.

The Central Bank said that mortgage rates eased to 4.08% in September from 4.11% in August. Irish mortgage rates are now the joint sixth highest in the euro zone, where the average rate is 3.59%.

Mortgage rates vary hugely across the euro zone and range from as low as 1.76% in Malta to as high as 5.28% in Latvia. Today's Cental Bank figures show that the total volume of pure new mortgage agreements increased from €851m in August to €930m in September, which marked a 9% hike in monthly terms and a 30% increase from the same time last year.

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