Irish mortgage rates fall to lowest level in more than two years

Average Irish mortgage rate is now 3.66%, down from 3.72% in April

The latest Irish figure is down six basis points from the previous month, with the equivalent euro area average decreasing by two basis points to 3.32%.

Irish mortgage rates fell to their lowest level in more than two years in May as consecutive rate cuts by the European Central Bank (ECB) have continued to been passed onto customers.

New figures released by the Central Bank of Ireland on Wednesday show that at 3.66%, the gap between the average Irish rate and that of the Eurozone continues to narrow.