Recent figures from the Banking and Payments Federation Ireland (BPFI) and the Central Bank, show a surprising downward shift in mortgage rates. A slow down in switching, however, also resulted in a decline in the amount of new mortgages issued. Ireland still has one of the cheapest mortgage rates in the eurozone and an encouraging…
Tag Archives: mortgage
Mortgage approvals fell in January when compared to the previous month, but were higher year-on-year, according to data from the Banking Payments Federation of Ireland. There were 3,621 mortgages approved last month, down 6.1% on December but 7.9% higher than in January 2021. The total value of the month’s approvals stood at €932m, which was…
New analysis shows that the country’s stock of houses available for sale is now at the lowest level on record. The analysis from Sherry FitzGerald shows there were only 14,400 second-hand properties listed for sale nationwide in January. The estate agents said this represents a 6.7% fall over the past twelve months, with over 1,000…
Ireland has once again risen to the top of the league table in Europe when it comes to the interest rates that we pay on our mortgages. The average first-time buyer here pays about €200 more per month than their eurozone counterparts on a similar sized mortgage. However, believe it or not, we’ve led a…
Ireland once again has the highest mortgage interest rates in the euro zone, new figures from the Central Bank show. The average interest rate on new Irish mortgage agreements stood at 2.69% in December, compared to euro area average of 1.29%. Ireland is followed by Greece at 2.55% and Latvia at 2.26%. Finland has the…
The design and calibration of the mortgage lending rules need to be amended, an organisation representing the property industry here has argued. Property Industry Ireland (PII) claimed the current measures are outdated and need to be changed to reflect buyers’ what a household can afford to spend, not what their income is. The argument is…
The country’s five retail banks are likely to extend a six-month break on loan repayments so that they can help homeowners cope with financial difficulty caused by the coronavirus. This will be a shift from a three-month mortgage break that borrowers had been given by the banks before the COVID-19 impact. According to the Banking…
New figures from the Central Statistics Office show that residential property prices increased by 1% nationally in the year to March. The CSO said this compares with an increase of 1% in the year to February and an increase of 3.8% the same time last year. Today’s figures lag a coronavirus-related collapse in housing transactions….
New figures from Banking and Payments Federation Ireland show that a total of 8,728 new mortgages worth €1.996 billion were drawn down by borrowers during the first quarter of 2020. BPFI said this represents an increase 1.8% in volume and 6% in value on the corresponding first quarter of 2019. Today’s figures show a fall…