Mortgage interest rate unchanged

Mortgage interest rates payable by consumers remained largely unchanged in May, but are still lower than the eurozone average, according to the Central Bank.

According to the financial watchdog’s May retail interest rate stats, published yesterday, average rates on outstanding loans to households for house purchases amounted to 2.98% as of the end of the month.

This covered outstanding mortgage loans with an original maturity over five years, which accounted for 99% of all outstanding mortgages in the Irish market.