The figures reveal that the average interest rate on a new mortgage in Ireland in April was 2.77%, down slightly from 2.78% in March.
The Eurozone average is 1.59%, its highest level in almost three years and up from 1.46% in March, and 1.26% in April of last year."The US, UK, Australian and New Zealand central banks have all raised rates recently to help rein in rapidly increasing prices, and it’s only a matter of weeks before the ECB feels compelled to follow suit," Mr Cassidy said.
Reacting to today's figures, Trevor Grant, Chairperson of the Association of Irish Mortgage Advisors said fixed rates are the only game in town when it comes to mortgages in Ireland at the moment. However, Mr Grant warned that many first-time buyers of new homes are being attracted by low"Green rates".