Irish mortgage rates fall ahead of expected interest rate hikes by ECB

Central Bank data shows Ireland is now the tenth most expensive country in the eurozone for new mortgages

 After holding off since the Iran war erupted, ECB officials now appear convinced that an interest-rate hike is needed to prevent soaring energy prices from creating a broader inflation surge. 

The average interest rate on new mortgages fell marginally in April, dropping by 2 basis points to 3.5% compared to the previous month.

New data released by the Central Bank on Wednesday placed Ireland as the 10th most expensive in the eurozone for mortgages, down from the 7th spot in the previous month.