Irish mortgage holders pay the highest interest rates in the euro zone, according to new figures

According to new figures released today, Irish mortgage holders are the most exposed to interest rates in the euro area.

The latest figures from the Central Bank show that the average rate of new mortgages was 3.2% in May. an average rate of 1.80% across Europe.

Although this is historically low for Ireland, the Central Bank says that new mortgage agreements have jumped by a third in the 12 months prior to May.

The figures also show that the popularity of fixed rates continues to increase and that they now account for 54% of new mortgages. However, this remains low compared to European standards where 80% of mortgages are fixed. [Traduction] In response to this announcement, Daragh Cbadidy, head of communications at bonkers.ie, said, "More than four years after the end of the recession, the scam of the Irish mortgage rate continues. New Irish mortgage holders continue to pay more for their mortgage than any other country in the euro area.

"A first buyer who contracts a 250,000 euro mortgage in Ireland over 30 years would pay about 1,082 euros a month on the basis of average rates."

" In recent times, Irish mortgage holders have been reluctant to change, which is crazy considering the potential savings.There is now a huge variation in rates between different lenders, so people should switch to the best rate, "he said.

Digital Desk