Indo - "Mortgage rates fall to their lowest level in almost two years"

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Mortgage rates fall to their lowest level in more than two years

Mortgage rates have dropped to their lowest level in more than two years, and the gap between what is being charged here and by lenders in the rest of the Eurozone is narrowing.
m.independent.ie m.independent.ie
Mortgage rates have dropped to their lowest level in more than two years, and the gap between what is being charged here and by lenders in the rest of the Eurozone is narrowing.

Experts said this is good news for an estimated 100,000 mortgage holders coming off fixed rates who have feared a “refinancing shock” this year. This is because they fixed when mortgage rates were under 2pc.

Now they are coming out of those fixed rates and the average rate is the market is 3.6pc, according to latest data from the Central Bank of Ireland.

The average rate for June is down from 3.66pc in May and 4.11pc in June last year. It compares with the Eurozone average of 3.29pc.

However, rates varied hugely across the currency bloc as they have done for years — from as low as 1.72pc in Malta to as high as 4.15pc in Latvia. Wide variations also exist within Ireland.
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