Irish still paying above-average mortgage interest

Irish mortgage holders are still paying more interest on their home loan repayments than their eurozone counterparts, new Central Bank data shows.

Latest Central Bank figures, published yesterday, show that the average interest rate on all new floating rate loan agreements for house purchase — which includes mortgage renegotiations — stood at 3.11% in July, the most recent monthly data available.

While marginally down —by 23 basis points — on a year-on-year basis, the average Irish rate is still well above the average for the wider eurozone, which stood at 1.82% in July.