Mortgage rates in Ireland rise above eurozone average with more increases to come

Ireland’s mortgage rates are the sixth lowest in the eurozone despite the month-on-month jump.

“The average tracker customer could soon be paying a rate of around 5.6% or 5.7% while the best rate available to prospective first-time buyers will likely be over 5% by the end of the year,” said Daragh Cassidy at Bonkers. 

Mortgage rates in Ireland have risen higher than the eurozone average, according to latest figures from the Central Bank.

The average interest rate for a new mortgage climbed from 3.6% in April to 3.8% in May, following more interest rate hikes by the European Central Bank to get inflation under control.