We will see further fixed rate reductions soon – Harry Dwyer Moneycare
KBC bank have reduced the bar on mortgage rates further lower for customers with great reductions in interest rates – Their 5 year fixed rate has now gone down to 2.80%. with their 3 year fixed rate sitting as low as 2.75%
That means if you have a mortgage over 25 years with a mortgage of €150,000 of a balance your repayments could be as low as 692.00 per month ,, This is a great opportunity to switch your mortgage , not only are you lowering your monthly repayment but also you are creating certainty on your fixed rate repayment over the fixed rate term.
In general banks are perhaps only lending 40% of the volume they did at the height, they are still well back on figures, to increase their profit they need to be lending more. European Bank mortgage rates are much lower and the Irish banks have an opportunity to go lower if they want to . Don’t be surprised to see further fixed rate interest rate reductions over the coming months.