The CB is still lying about true mortgage rates in Ireland

[Brendan Burgess]

Here is an extract from their report today:

They are trying to suggest that the average new business rate in Ireland is about 3.5%. It's really outrageous that they do this. They know it's 4.2% and say so elsewhere in the report.

 

[ClubMan]

3.6% if "new mortgages" includes renegotiations of existing loans.
4.26% otherwise.
Confusing...

These cross-country harmonised data show that the interest rate on new mortgages in Ireland, currently 3.60 per cent, is the highest of all countries (Chart 3). The median for the selected European countries for new mortgage lending is 2.53 per cent. However, these data include renegotiations of existing loans. When these are stripped out, the new business rate in Ireland during Q4 2014 was 4.26 per cent.