Interest rates on hold ‘for now’

PERMANENT TSB will not raise its mortgage interest rates any further before the summer months, but is likely to review them again around that time.

The company has raised its standard variable mortgage rates by 0.5% on two occasions inside the last 12 months – last July and in February of this year – bringing the rate to 3.69%.

Speaking yesterday, Irish Life & Permanent (IL&P) chief executive Kevin Murphy said that the previous rate hikes were difficult decisions but ultimately reflected the cost of raising deposits in Ireland today.