There has been a huge upsurge in mortgage holders opting for fixed rates. Only Greece had higher interest rates in March, while Finland had the lowest at under 1pc. Some fixed rates are as low as 2.3pc, compared with variable rates of up to 4.5pc. In other countries, fixed rates are regarded as those that last for more than five years. But the paper warns that fixed rates are due to become more expensive in this country as more mortgage holders fix for longer.
Source: Irish Independent May 25, 2019 01:30 UTC