Average mortgage rate rises for first time since January

Irish mortgage rates are now seventh highest in the euro area, new figures from the Central Bank show 

For fixed-rate mortgages, which constitute 87% of all new mortgage agreements, the average rate climbed one basis point higher to 3.51%.

The average interest rate on new Irish mortgages increased marginally in September, rising to the seventh highest in the euro area. 

New figures released by the Central Bank of Ireland on Wednesday found that the average rate of a new mortgage rose by one basis point to 3.59% at the end of September. On an annual basis, the average rate had fallen by almost 50 basis points.