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Mortgage rates down but still twice Eurozone average

MORTGAGE rates have fallen in this country but are still more than twice the average charged in the Eurozone. This means it costs €190 more a month to service a mortgage in this country than the average in the currency bloc. New figures show that the rate on new mortgage agreements was 2.79pc in February. This is down by 12 basis points on the same month a year ago, but is still more than twice the 1.27pc average for the euro area. Ireland is back to having the second highest mortgage interest rates across the euro area, according to the Central Bank data.

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