tracker Archives - MyHome.ie Advice & Blog

Further ECB rate cut expected this summer

Tracker mortage holders could be set for another rate cut this summer. A report in today’s Irish Independent claims that the European Central Bank will be forced to reduce its key lending rate in June. That will mean cheaper repayments for the 375,000 people who…

Further cut to ECB rate could be in the offing

General, Home, Mortgages & Money, Property News

Homeowners with tracker mortgages could be set to benefit from further cuts in their monthly repayments this autumn. The head of the European Central Bank, Mario Draghi, signaled yesterday that rates would stay at their historic low of 0.5% for an extended period and may…

Tracker mortgages are now so valuable they may be affecting the market

General, Home, Mortgages & Money, Property News

Yesterday’s ECB rate cut will be a welcome boost for the 400,000 or so homeowners who will see their mortgage repayments fall by 0.25%. However, the latest intervention by the European Central Bank to try and drive economic growth has only driven a bigger wedge…

ECB rate left unchanged at 0.75%

General, Home, Mortgages & Money, Property News

The European Central Bank has left its main interest rate at 0.75%, following their meeting today. The move means there will be no increase or reduction in the cost of servicing a mortgage for those on a tracker. Indeed, those on tracker mortgages could…

McGrath accuses banks and government of abandoning variable rate customers

General, Home, Mortgages & Money, Property News

The decision of AIB to hike up their variable mortgage interest rate by another 0.5% is further evidence that the banks and the government have completely abandoned variable rate customers, according to Fianna Fáil finance spokesperson Michael McGrath. Speaking following the announcement yesterday, Deputy McGrath…

Permanent TSB cut variable rate by 0.35%

Home, Mortgages & Money, Property News

Permanent TSB has announced that it is to reduce its standard variable mortgage rate following the decision by the ECB to cut rates yesterday. The bank has been one of the most expensive mortgage lenders in the country and was recently criticised by customers at…

The mortgage divide, is it right?

Mortgages & Money, Property News

Yesterday’s ECB rate cut of 0.25% will be welcome news to many mortgage holders but for a large proportion, they will never benefit from it. Tracker mortgage holders will automatically benefit from the new 0.75% rate but the cut is unlikely to be passed on…

Gap between variable and tracker mortgages widens

Mortgages & Money

Research from the Central Bank has found that the average interest rate on variable rate mortgage loans is just under two percentage points higher than the average for tracker loans. The research examined movements in variable rate home loans over the past few years. The…

Should banks pass on rate cuts?

Property News

Today's topic may be a little contentious... In a surprise move yesterday Mario Draghi, the brand new ECB President, reduced interest rates and indications are that they may go lower again in the near future (he had been president for a mere 3 days to…