MORTGAGE rates in this country are still double Eurozone levels and could rise again if Ulster Bank quits. Daragh Cassidy of price comparison site Bonkers.ie said it was hugely frustrating that mortgage rates in Ireland remain so high. He warned that they could rise if Ulster Bank pulls out of this market. Mr Cassidy said: “In the short term at least, all eyes are on Ulster Bank which is expected to announce a decision on its future here by the end of the month. “If Ulster Bank takes the nuclear option of leaving the Irish market it’ll be a huge blow to competition and could put upward pressure on rates in the medium term.”He said a closure move by Ulster Bank would reverse the slow downward trend in mortgage rates seen in the last few years.

Source: Irish Independent February 10, 2021 12:33 UTC