Those looking for homes are under increasing cost pressure as new figures showed Ireland has the second highest mortgage rates in the eurozone. The weighted average interest rate on new Irish mortgage agreements was 2.76% in February 2022, down three basis points on February 2021, according to the Central Bank. The weighted average interest rate on new fixed rate mortgage agreements, which account for 81% of all new agreements, was 2.60% in February. The average interest rate on new consumer loans was 6.65% in February 2022. These pressures have also led to the European Central Bank (ECB) discussing increasing interest rates in the coming months.

Source: Irish Examiner April 13, 2022 23:30 UTC