European Central Bank Archives

Bank of Ireland interest rate changes

The European Central Bank last week confirmed that it is implementing a 0.5% interest rate increase. As a result, Bank of Ireland is announcing a number of interest rate changes. Mortgages Tracker mortgage rates will increase for all tracker mortgage customers by 0.5%. For most customers, this change will take effect from 10 August, 2022. Bank of Ireland will write to all tracker mortgage customers confirming the new interest rate,…

6.3% inflation increase for rural households

The government has been urged to look into methods in an attempt to alleviate increases in the cost of living. With particular focus on energy spending and consumption costs, the country faces severe financial pressure due to the recent hikes in fertiliser and feedstuffs. This comes as the European Central Bank (ECB) has revealed the latest data indicating that inflation in Ireland for the period of December 2021 was at…

Lower mortgage rates for some homeowners

Thousands of homeowners are unexpectedly eligible for lower mortgage rates. This is due to surging house prices over the last two years. The benefit will apply to around 90,000 homeowners who drew down their mortgages between the years 2018 and 2020, according to the Doddl.ie mortgage switching index. Martina Hennessy, Doddl.ie MD, says that, “With house prices increasing by over 10pc annually, opportunity is now knocking for those who have…