Ireland has second highest mortgage interest rate in Europe

Ireland has second highest mortgage interest rate in Europe

Ireland has the second highest mortgage interest rates in Europe, second only to Greece. 

New figures from the Central Bank show that rates here were double those in the rest of the currency zone in August.

In August the average interest rate was 2.74pc, down 9 basis points on August last year.

The average for the euro area is 1.27pc.

Finland has the lowest interest rate, coming in at under 1pc. 

Fixed rate mortgages accounted for 80% of new mortgages during the month.

For new variable rate mortgage agreements, the average interest rate stood at 3.31%, down 15 basis points on the same time last year, although volumes agreed remain quite volatile.

The volume of new mortgage agreements amounted to €704 million in August.

To continue reading this article, please register and log in.

Registration is free and you can also sign up to our newsletter to keep up to date with your latest local news!


Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.

Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.