Average mortgage rates dip slightly but hikes 'almost guaranteed' to resume

The eurozone average now stands at 3.33% which is up from 3.16% in January

Darragh Cassidy of Bonkers.ie said that anyone applying for a mortgage now are going to face "much higher rates". Picture Denis Minihane.

Average mortgage interest rates took a slight drop during the month of February but further hikes from lenders are “almost guaranteed” over the coming months.

New figures from the Central Bank of Ireland shows the average mortgage interest rate at 2.92% - down from the 2.93% recorded in January which at the time was a three-year high. The average interest rate on new fixed-rate mortgages, which make up 93% of all new mortgages, was 2.83%.