Irish mortgage rates continued to decline in June, while deposit rates reached their highest levels in over 15 years, according to new data from the Central Bank of Ireland.
The average interest rate on a new mortgage fell to 4.11 per cent, marking the third consecutive month of decreases and bringing rates to their lowest point in ten months.
In comparison, the average mortgage rate across the Eurozone also fell for the seventh consecutive month, reaching 3.75 per cent.
However, significant variation was observed across different countries, with rates ranging from as low as 1.95 per cent in Malta to as high as 5.97 per cent in Latvia.
While mortgage rates have been easing, deposit rates in Ireland have been on the rise. The average rate on a fixed-term deposit account increased for the third straight month to 2.75 per cent.
This marks the highest level for deposit rates in Ireland since December 2008. Despite this increase, deposit rates in Ireland remain below the Eurozone average, which currently stands at 3.03 per cent.