In this video, we're talking about why mortgage rates are so high in Ireland (or are they?). Irish mortgage rates are currently at their highest level since 2017. However, Irish mortgage rates, while above the Euro Area average, are among the lowest in Europe in May 2023. Conversely, just under 4 years ago, Irish mortgage rates were the second highest in the Euro Area just behind Greece. This was largely thanks to the shift in the Irish mortgage market from variable to fixed rates, a low European Central Bank interest rate environment and high capital requirements on the mortgage books of Irish banks. But now the tables have seemingly turned and Irish banks are charging competitive mortgage rates once more. Let's talk about it.

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