Search Results for 'Rachel McGovern'

Commenting on the recent ECB decision to keep interest rates unchanged, Brokers Ireland said even when the move to reduce the rate begins there is still a 'rocky road' ahead for many mortgage holders.

Responding to the most recent Central Bank Retail Interest Rates publication for December showing Ireland with a weighted average interest rate on new mortgages of 4.19%, just 0.13% higher than the euro area average, and six basis points down on the previous month, Brokers Ireland said it is to be hoped that by mid-year the situation will have improved with some movement downwards by the ECB.

Commenting on the CSO Residential Property Price Index for October, Brokers Ireland said the 2.3% year-on-year increase marks a bigger increase than has been seen for several months.

Commenting on the ECB decision to keep its interest rates unchanged, Brokers Ireland said it will come as a relief to worried mortgage holders who have been in trepidation fearing further increases.

Responding to the recent Central Bank Retail Interest Rates publication for August showing Ireland with a weighted average interest rate on new mortgages of 4.10%, up 146 basis points in a year, and close to the euro area average which is 0.15% lower, Brokers Ireland said those taking out mortgages need to consider their options very carefully.

Welcoming the initiative by Banking & Payments Federation Ireland for mortgage holders who want to switch lenders but have had credit issues in the past, Brokers Ireland, a participant in assisting those seeking to switch their mortgages said now is a good time to remind mortgage holders running into difficulty to reach out for help before falling into arrears.

Responding to the most recent Central Bank Retail interest rates publication for June, showing Ireland at a weighted average interest rate of 4.04 percent, up 136 basis points in annual terms and a 12 percent decrease on the previous month in the volume of pure new mortgage agreements, Brokers Ireland has stated that it is “clearly evident the dampening effect the questionable and aggressive interest rate stance is having on potential home owners, at a time of strong and pent-up demand for homes.”

To assist consumers who have a pre-existing illness and are attempting to obtain life cover for mortgages, Brokers Ireland has today launched a register of 170 brokers who are available to help those experiencing difficulties.

Commenting on the recent ECB decision to raise its main refinancing rate by a further 0.25 percent, the ninth increase since July last, bringing it to 4.25 percent, Brokers Ireland said “one would be hopeful while not at all confident, that the strategy will achieve stability rather than fragility and destruction among borrowers – personal and business borrowers.”

Commenting on the most recent CSO House Price Index, Brokers Ireland said this, the third monthly drop in a row, this time at -0.6 percent, indicates that prices are certainly showing that excess has left the market.