Mortgage rates close to hitting peak as they reach highest level since 2017

Since the start of the year there has been a frenzy of activity among lenders currently operating in the market to swell their loan books further

Central Bank figures show the average interest rate on new Irish mortgage agreements rose to 4.31%.

Interest rates on new mortgage agreements crept up again in March to reach the highest level since 2017, but they may be close to hitting a peak amid changing conditions.

Figures from the Central Bank showed the average interest rate on new Irish mortgage agreements rose to 4.31%, representing a two basis-point jump on the previous month and the third consecutive monthly increase.