According to recent data released by the Central Bank of Ireland, the average interest rate for new mortgages in the country experienced a significant increase in January. Rising from 2.69% in December to 2.93% in January, these figures represent the highest level since October 2019.
Despite the sharp uptick, Ireland’s mortgage rates remain among the most competitive in the Eurozone. In January, only France and Malta reported lower rates. The Eurozone average climbed to 3.16%, marking an increase of more than double the rate recorded the previous year.