Noonan expected to announce rate cuts or new mortgage deals from banks

The Minister for Finance Michael Noonan is expected to publish a report this afternoon which will say lenders have agreed to cut their variable rates for mortgages, or offer their customers new deals.

The Minister for Finance Michael Noonan is expected to publish a report this afternoon which will say lenders have agreed to cut their variable rates for mortgages, or offer their customers new fixed-rate deals.

The Irish Independent reports that the ultimate aim is get all borrowers on interest rates of below 4%, with the new measures expected to be in place by July.