Why aren't Irish banks reducing variable mortgage rates?

An episode of the Breakfast Business with Joe Lynam podcast, hosted by Newstalk, titled "Why aren't Irish banks reducing variable mortgage rates?" was published on June 11, 2024 and runs 6 minutes.

June 11, 2024 ·6m · Breakfast Business with Joe Lynam

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Episode Description

Last week, the European Central Bank reduced its official deposit rate for commercial banks from 4% to 3.75%, with indications that further cuts might be coming. However, major Irish banks have yet to lower their standard variable rates, and there is no requirement for them to do so. Additionally, those on fixed mortgages won't see any benefit from these lower rates. Joe was joined by Margaret Barrett from Mortgage Navigators to discuss the current state of the mortgage market.

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