In a remarkable trend, Ireland’s average mortgage interest rates have fallen for the third consecutive month, settling at 4.19%, as reported by the Central Bank’s December figures. This 0.06% decrease from November has positioned Ireland in 10th place among Eurozone countries. Economists express surprise at this unexpected shift, attributing it to the anticipation of a European Central Bank (ECB) interest rate cut by June.
Despite the positive news, regional disparities persist within the Eurozone, with Malta boasting the lowest mortgage interest rate at 2.44% and Latvia grappling with the highest at 6.06%. The average mortgage interest rate for the entire Eurozone stands at 4.06%. As the ECB’s potential rate cut looms, Ireland’s housing market experiences a welcomed dip in mortgage rates, sparking optimism among homeowners and prospective buyers alike.