New mortgage rates have fallen to their lowest level since July 2023, according to the latest figures from the Central Bank.
Their latest report shows that Irish mortgage rates fell to 4.08% in September. This is down from the rate of 4.11% which was recorded in the three previous month and leaves Ireland with its lowest rate level since the summer of last year.
The fall in rates is good news for those with mortgages amid the expectation that the European Central Bank are set to cut interest rates for the fourth time this year when they meet again next month.
Across the Eurozone the average new mortgage rate has fallen to 3.59%. However, rates vary hugely across the currency bloc – from as low as 1.76% in Malta to as high as 5.28% in Latvia.
Ireland had the sixth-highest rates in the Eurozone, with the gap between average rates here and the average Eurozone rate now at its biggest level in over two years.
You can find the best mortgage interest rates for you via our partners Switcheroo here.
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