News Formal

Banks double business loan interest rates over past year

  • 📰 IrishTimesBiz
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 77%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Mortgage rates for new loans now average 3.84%, ahead of 3.7% average across EU lenders

The 3.84 per cent average rate that applied to new Irish home loans in May was up from 2.72 per cent a year earlier and slightly ahead of the latest euro-zone average rate of 3.7 per cent. It was up 21 basis points from the average of 3.63 per cent in April.

The European Central Bank hiked its main lending rate from zero last July to 3.75 per cent in early Mary, as big central banks globally rushed to increase the cost of borrowing to try to rein in inflation. The ECB has since increased its rate to 4 per cent.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Property industry plays down impact of higher interest rates: Is it right?Several commentators think property industry is underestimating impact of interest rates
Source: IrishTimesBiz - 🏆 6. / 77 Read more »