Mortgage interest reductions lag well behind ECB cuts, Central Bank data shows

The eurozone average interest rate now stands at 3.29% with Ireland having the seventh highest rates

The weighted average interest rate on new Irish mortgage agreements as of the end of June 2025 was 3.60% - which is down from the 3.61% recorded in May and the 4.11% recorded in June 2024.

The average mortgage interest rate has declined by just over 0.5% in the year to June during which time the European Central Bank (ECB) has cut interest rates nearly in half over eight separate reductions, new data from the Central Bank of Ireland shows.

According to the data, the weighted average interest rate on new Irish mortgage agreements as of the end of June 2025 was 3.60% - which is down from the 3.61% recorded in May and the 4.11% recorded in June 2024.