The European Central Bank (ECB) is due to deliver its fourth interest rate cut today in a move that is expected to boost the mortgage market.
A reduction of 0.25 percentage points is expected, and there may be another four rate cuts next year.
That would put extra pressure on lenders here to reduce new fixed and variable rates, and it would benefit tracker customers.
Mortgage rates here continue to fall, according to the latest data from the Central Bank.
This week’s ECB rate cut will be the fourth reduction since it increased rates 10 times up to September last year.
Up to a few days ago, there had been hopes of a 0.5 percentage point rate cut, but that is now off the table.
Read the full details in Irish Independent
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