Irish mortgage holders pay less interest than Europeans

Irish mortgage holders are still being charged less interest on their homeloans than their eurozone neighbours, despite a number of rate hike announcements last year.

New figures, published yesterday by the Central Bank, show that the weighted average interest rate on outstanding loans to households for house purchase stood at 3%, as of the end of March.

That was still below the average mortgage interest rate being charged across the eurozone area, as a whole, which stood at 3.49% as of the end of March; falling by 36 basis points since March of last year.