Brendan Burgess
Founder
- Messages
- 52,204
It really is unbelievable. 18 months after the Central Bank was found to be including cheap trackers as new business, they continue to do sol.
[broken link removed]
"The rate on new floating rate loan agreements[2] for house purchase (which includes renegotiations), was 3.4 per cent at end-November 2015, representing a decrease of 6 basis points over the month. The equivalent euro rate was 2.05 per cent (Chart 2)."
They are actually claiming that the rate for new loans is 3.4%. Here is the up to date chart
Most new loans are in the 90% category where the rates vary from 3.65% to 4.5%.
Yet the Central Bank says that the average is 3.4%.
If you go beyond the Press Release and look at the Statistical Release, you will find the true figure buried in Page 2
I assume that this is what the 3.96% rate is. I have no idea why they give the information as of September 2015.
Brendan
[broken link removed]
"The rate on new floating rate loan agreements[2] for house purchase (which includes renegotiations), was 3.4 per cent at end-November 2015, representing a decrease of 6 basis points over the month. The equivalent euro rate was 2.05 per cent (Chart 2)."
They are actually claiming that the rate for new loans is 3.4%. Here is the up to date chart
Most new loans are in the 90% category where the rates vary from 3.65% to 4.5%.
Yet the Central Bank says that the average is 3.4%.
If you go beyond the Press Release and look at the Statistical Release, you will find the true figure buried in Page 2
I assume that this is what the 3.96% rate is. I have no idea why they give the information as of September 2015.
Brendan
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