Mortgage rates hit a six-year high before price war broke out

Rates in Ireland rose to an average of 4.31%, the highest in over six years. The Eurozone had rates ranging from 1.96% in Malta to 6.16% in Latvia.

Lenders like Avant Money and AIB are cutting rates and offering incentives to attract switchers, ahead of a potential ECB rate cut. Bank of Ireland introduced discounts on fixed rates.

A slowdown in mortgage switching in Ireland led to a 20% drop in mortgages taken out in the first three months of the year. The market anticipates an ECB rate cut soon.

Read at Irish Independent