New mortgage interest rates rise above 4%

Interest rates on new mortgages surpassed the eurozone average during June.

Interest rates on new mortgages rose above 4% in June as rate increases from the European Central Bank (ECB) continue to make their way through to customers, new data from the Central Bank shows.

The average interest rate for new mortgages now stands at 4.04% — up from 3.84% recorded in May which is the second largest increase in the eurozone.