Search Results for 'retail interest rates'

As the Central Bank’s retail interest rates for August reveal a continuing wide gap between Irish and euro area mortgage holders, with Irish consumers paying 2.83 percent compared with 1.35 percent on average across the euro area, a differential of 1.48 percent, Brokers Ireland said there is not enough competition in the Irish mortgage market and Irish consumers may have to wait until they can access mortgages across EU borders before we’re likely to see strong competition.

As the Central Bank’s retail interest rates reveal a continuing gap, 1.46 percent for June, between Irish and euro area mortgage holders, with Irish consumers paying this excess (2.79 percent Irish versus 1.33 percent euro area average), the writing may be on the wall for this high level of divergence, given the entry of more competition into the Irish market, Brokers Ireland has said.

Commenting on the most recent Central Bank report on retail interest rates for May, Brokers Ireland said not only are Irish mortgage holders paying much higher interest rates than their euro area counterparts but Irish SMEs are being “absolutely fleeced” by comparison with their euro area businesses.