Interest rate increase to add €30 per month on €250,000 mortgage

Today’s ECB interest rate increase of 0.25%, the fifth increase in 11 months, will make a big difference to many people’s monthly mortgage repayments, the financial regulator said today.

“If the full increase announced today is passed on to mortgage customers, it will add over €30 a month on a €250,000 20-year mortgage,” said consumer director Mary O’Dea.