Mortgage rates fall slightly from their peak but customers may have to wait a while for cuts

Brokers Ireland said the environment for mortgage holders is 'more optimistic' than it was when the ECB began hiking interest rates two summers ago.

Interest rates on mortgages fell marginally in April after reaching their peak in March, however further declines may be slower than expected despite the recent European Central Bank (ECB) cut.

Figures from the Central Bank showed the average interest rate on new Irish mortgage agreements dropped to 4.24% in April, representing a seven basis-point fall on the previous month.