Ireland's expensive mortgage rates are second highest in eurozone

Someone borrowing this amount over 30 years is paying around €183 extra a month, or €2,200 a year, compared to other European countries.

The average interest rate on new consumer loans was 6.65% in February 2022.

Those looking for homes are under increasing cost pressure as new figures showed Ireland has the second highest mortgage rates in the eurozone.

The weighted average interest rate on new Irish mortgage agreements was 2.76% in February 2022, down three basis points on February 2021, according to the Central Bank. The average for the euro area stood at 1.36% in February.