5 tracker mortgage rate rises loom

TRACKER mortgage holders could be hit with up to five interest rate hikes by the end of next year — adding €150 a month to a €200,000 mortgage.

Economists are expecting the European Central Bank (ECB) to hike rates by the end of this year, with some saying the first increase could come in September.

A lot will depend on the state of the economy but once the ECB begin raising interest rates then they usually hike by 0.25% every three months.