Mortgage holders on alert for hike

FEARS have been expressed that the European Central Bank (ECB) may raise interest rates in 2011 bringing further heartache for house owners.

Managing director of the Irish Mortgage Corporation Frank Conway said he thinks people should continue to rely on conventional wisdom which suggests the ECB will have to increase interest rates at some point.

“All the signs within the eurozone is for muted economic growth and modest inflation, but with inflation starting to increase beyond the ECB tolerance levels.