It could be another two years before ECB rates start to fall, they have warned. Borrowers were warned that fixed rates were set to go to 5.5pc in the coming months. There have been seven ECB rate increases since last summer, with another two now expected by September. AIB, Bank of Ireland and Permanent TSB have increased their fixed rates a number of times. Despite the increases, mortgage rates in this country are still among the lowest in the Eurozone.

Source: The Times May 29, 2023 19:00 UTC