Mortgage interest rates 4th lowest in eurozone

INTEREST rates for new mortgages in Ireland were the fourth lowest in the eurozone at the end of last year.

While banks were providing some of the cheapest loans in Europe though, the actual value of mortgages had surged in recent years.

The CSO figures show interest rates on average for household mortgages in 2008 were 4.33%. The only countries with lower rates were Luxembourg, Finland and Malta, which itself was providing loans at a rock bottom 3.81% in interest rates.