Irish mortgage customers to benefit as European Central Bank interest rates to fall three more times by next summer

After 10 hikes since the middle of 2022, we might see five cuts by the summer, reversing well under half the tightening.

The vast majority of mortgage-holders in Ireland do not have a tracker rate, but will also hope that the ECB reducing rates will result in Irish mortgage lenders following suit.

This latest reduction will be followed next Wednesday by a special one-off adjustment in the refinancing rate that will give tracker holders a total reduction of 0.6 points.

This will deliver savings of around €30 a month in repayments, based on a homeowner couple with 15 years left to pay and €100,000 outstanding.

Read at Irish Independent