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Commenting on the most recent Central Bank Retail Interest Rates for September 2021, Brokers Ireland said while the rate has improved minimally in the last month, at 2.72 percent Irish mortgage holders continue to pay the second highest rate in the euro zone, a full 1.45 percent ahead of the euro area average, a figure that would result in Irish consumers paying over €78,000 over and above their European neighbours on a €300k mortgage over 30 years.

Commenting on the CSO Residential Property Price Index for February, Brokers Ireland has stated that a further rise in property prices, this time a jump from 2.6 percent to three percent between January and February, reflects the strong demand amid decreasing supply – the latter down eight percent month-on-month in February.

Mayo County Council and Transport Infrastructure Ireland (TII) are proposing an 80 kilometre per hour speed limit through Breaffy village. Over the past numbers of years, the issue of speeding motorists through Breaffy has been an ongoing concern for local residents.

Commenting on the most recent Central Bank Retail Interest Rates publication for February, Brokers Ireland said the increase in the volume of new mortgage agreements of seven percent year-on-year in February and particularly the 23 percent increase month-on-month between January and February 2021 reflects the increasing demand for mortgages, despite the ongoing pandemic.

Commenting on the most recent Residential Mortgage Arrears and Repossessions from the Central Bank for Q4 2020, Brokers Ireland noted that while a reduction in the number of arrears cases is positive, they are still far too high and not enough is being done to address the issue which, well over a decade on from the financial crash, is impacting Ireland’s disproportionately higher mortgage interest rates than those of the euro area.

Commenting on the most recent CSO Pensions Coverage 2020 report, Brokers Ireland said it must first be acknowledged that 20 percent of the population, those who most need pension coverage, were not included in the study because they were unemployed.

Commenting on the most recent Central Bank Retail Interest Rates publication, Brokers Ireland said the drop in the weighted average interest rate on new mortgages in December to 2.76 from 2.79 the previous month is to be welcomed, even if the rate remains the second highest in the euro area behind Greece.

Commenting on the Central Bank Credit and Debit Card Statistics for November 2020, Brokers Ireland noted that €595 million was spent on e-commence transactions in the month, a figure it predicts will have substantially increased in December, although figures are not yet available, and advised of the very high cost of such credit if bills are not paid on time.

Responding to the most recent Central Bank Economic Letter on mortgage switching, Brokers Ireland said more needs to be done to educate consumers and help them overcome the “in-built culture of not switching.”

As the Central Bank’s retail interest rates for August reveal a continuing wide gap between Irish and euro area mortgage holders, with Irish consumers paying 2.83 percent compared with 1.35 percent on average across the euro area, a differential of 1.48 percent, Brokers Ireland said there is not enough competition in the Irish mortgage market and Irish consumers may have to wait until they can access mortgages across EU borders before we’re likely to see strong competition.