Predictions indicate that mortgage rates could fall to 3% by the end of the year, partly driven by the European Central Bank's anticipated eighth rate cut. The average mortgage rate in Ireland dipped slightly to 3.77% in March, which still positions it as the sixth highest in the Eurozone. Rates vary significantly across Europe, with some countries seeing rates as low as 1.81% and others as high as 4.38%. Additionally, competition in the banking sector may increase with new entrants such as Avant Money and Goldman Sachs planning to launch products in Ireland.
Mortgage rates are now at their lowest level in almost two years and should continue to ease a bit more over the rest of the year.
The average mortgage rate fell slightly to 3.77pc, down from 3.79pc in February, indicating a positive trend in the borrowing landscape.
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