Irish mortgage rates fall marginally in April

Irish mortgage rates fell marginally in April, down from an elevated level the previous month, according to the Central Bank.

The figures indicated that the average interest rate on a new mortgage agreement here was 4.24 per cent, down 0.07 per cent on the March average. However, the average rate was 61 basis points up annually.‘People are not reading your stuff’ is the worst thing you can say to journalistsThe latest data meant Ireland had the seventh highest rates in the euro zone, an improvement of one place from March, the Central Bank said.

Markets have been pricing in another two rate reductions this year but the future path for interest rates is unclear with ECB policymakers failing to signal if another cut was imminent. “And the rate should creep slightly lower over the coming months as the rate reductions that have been introduced by several lenders recently feed through into the figures,” he said.

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