Irish mortgage interest rates jump in April as ECB prepares further hikes

Interest rates now at their highest level since the middle of 2017

The average new mortgage rate during April is 3.63%, an increase of 0.9% compared to March. 

Irish mortgage interest rates jumped by 0.9% during April and are expected to climb even further as the European Central Bank (ECB) meets on Thursday to decide on additional rate increases as it tries to stem inflation.

According to the latest figures from the Central Bank of Ireland, the average interest rates on new Irish mortgages at the end of April was 3.63% — which is 0.9% higher compared to March and 0.86% higher compared to the same period last year.