Homeowners face 1% hike in mortgage interest rates
The Irish Mortgage Brokers expect banks to push up interest rates by another 1% this year. Any move would add €1,280 a year to a €200,000, 25-year loan. They said rate increases may start this month.
Operations manager with the Irish Mortgage Brokers, Karl Deeter, said: “In short, 2011 is likely to be a washout in the Irish mortgage market, lending will be restricted and only done at higher margins.
