Irish mortgage rates fall to almost two-year low but remain above EU average 

Chairperson of Irish Mortgage Advisors Trevor Grant said mortgage rates under 3% could become a reality for many Irish borrowers from this summer, depending on how quickly lenders cut their rates in response to the ECB

A pedestrian walks past an estate agents in South Kensington, London, as the banking chain Halifax has reported that house prices have edged up by 0.4\% month-on-month in November, but there are more signs that the pace of growth is slowing.

The average interest rate on new Irish mortgage agreements has fallen to an almost two-year low following a series of successive rate cuts by the European Central Bank (ECB).

New figures released by the Central Bank of Ireland on Wednesday showed that the average rate on new mortgages fell to 3.8% in December last year, down from 3.97% in the previous month and marking the lowest level since April 2023.