‘Surprise’ at Bank of Ireland mortgage rate moves

Mortgage rate cuts by Bank of Ireland in its very short-term loans as well as rises in its very long-term rates have surprised brokers who say the changes will not shake up the market.

The bank said it cut its rates for one- and two-year loans by 0.1% to 2.9% and had increased both of its 10-year rates, by 0.2%, to 3.5% or 3.7%, depending on the size of the loan.