New figures from the Central Bank show the average interest rate for new mortgages in Ireland is 2.79%
Ireland had the second highest rate in December but overtook Greece in January.
The average rate in the EU is 1.29%.
Joey Sheahan of MyMortgages.ie says while the difference in rates may seem small, it is significant:
“1% difference in your mortgage could be as much as 57,000 interest over the term, so if you have a 300,000 mortgage over 30 years that can be the difference of up to 57,000 over that term.”