MORTGAGE rates in this country are more than double the average being charged in the Eurozone. New figures show that interest rates on home loans here are the third highest in the currency zone. The average rate on a new mortgage was up slightly to 2.82pc in July. “Ireland had the third highest mortgage interest rate across the euro area in July,” the Central Bank said. Banks blame elevated mortgage rates here on higher levels of arrears and the difficulty repossessing properties, where the mortgage is not being paid.

Source: Irish Independent September 11, 2020 12:33 UTC