Many prospective buyers say they are worried that interest rate hikes will affect their ability to buy. The MyHome.ie survey among 2,500 prospective buyers shows that interest rate hikes appear to have spooked those looking to secure a mortgage. She said there are too many prospective buyers battling over too few properties which are steadily costing more to finance. Mortgage rates have risen by between 1.5 to 2 percentage points in the last year. Last week the European Central Bank left interest rates unchanged in a rare move that comes after a succession of crippling interest rate rises.

Source: Irish Independent October 31, 2023 22:25 UTC