As average mortgage rates look set to rise above 5 per cent Martina Hennessy, managing director of mortgage broker doddl, says households coming to the end of fixed rates should secure their home loans now at below 4 per cent.
Her firm compiles an index taking the average new mortgage in the last quarter – €303,000 – and compares the highest variable rate of 6.65 per cent to the lowest fixed non-green 90 per cent loan to value deal, at 3.8 per cent. That gap generates the highest potential savings her index has yet posted at €509 a month, up from €299 at the end of March.
In its roughly 25 years of existence, the European Central Bank has had two interest rate-raising cycles. From
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