The interest rate attached to new mortgage contracts in Ireland has risen for the first time since January, raising concern the trend towards cheaper mortgages may have “come to an end”. The interest rate attached to new mortgage contracts in Ireland has risen for the first time since January, raising concern the trend towards cheaper mortgages may have “come to an end”. Central Bank figures indicated that the weighted average interest rate on new mortgages here rose marginally to 3.59 per cent in September. The figures come after last month’s decision by the European Central Bank to keep interest rates steady following a recent run of cuts. “The increase in the average interest rate on new mortgages will be a huge concern to Irish homebuyers,” said Trevor Grant, chairperson of Irish Mortgage Advisors.
