Average Irish mortgage rate sixth highest in euro area despite recent fall

The weighted average rate on new mortgages fell to 3.77% in March, which was 44 basis points higher than the euro area average of 3.33%

The European Central Bank (ECB) is pictured prior to a press conference on the eurozone's monetary policy, in Frankfurt am Main, western Germany on March 16, 2023. (Photo by Daniel ROLAND / AFP) (Photo by DANIEL ROLAND/AFP via Getty Images)

The average interest rate on new mortgages fell marginally in March but remains notably higher than the euro area average.

New figures released by the Central Bank of Ireland on Wednesday show average Irish rates on new mortgages fell by two basis points compared to the previous months to 3.77%, which was 44 basis points higher than the euro area average of 3.33%.