Minister for Finance Michael Noonan has insisted that he will not interfere with what any bank decides to charge in interest rates. With ECB rates at an historic low of 0.5%, most banks have put their variable rates up to combat the loss they are making on tracker mortgages. This has resulted in those on [...]
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20th May 2013
Homeowners will be allowed to move and keep their tracker mortgage
Homeowners will now be able to move house without having to give up their low interest tracker mortgages. Trackers are linked to the rate set by the European Central Bank, which currently has an historically low rate of 0.5%. With 375,000 homeowners currently on tracker mortgages, many are reluctant to move for fear of losing [...]
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14th May 2013
No further cuts in ECB rates until 2015, predicts survey
THE European Central Bank may not cut its key lending rate again until the end of next year – a move that would be a blow for tracker mortgage holders. A comprehensive survey of European economists has found that most do not expect another cut until at least 2015. This month the ECB cut its lending rate [...]
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3rd May 2013
Tracker mortgages are now so valuable they may be affecting the market
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 between those who have trackers and those who have not. [...]
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2nd May 2013
ECB cuts interest rates to 0.5%
Extended weak economic activity and tame inflation persuaded the European Central Bank to cut interest rates to a new reocrd low of 0.5 per cent, ECB president Mario Draghi said today. In the past month, confidence indicators have slumped, triggering fears of a delayed recovery in the euro zone. “Weak economic sentiment has extended into the spring of this [...]
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2nd May 2013
ECB expected to cut interest rates today
The European Central Bank is expected to announce an interest rate cut of 0.25% at its meeting today. It would bring the rate to an historic low of 0.5% and would be a boost to struggling homeowners. The cut would reduce the monthly repayments on every €100,000 owed on a tracker mortgage by €15. The [...]
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4th April 2013
ECB willing to cut interest rates further
The European Central Bank insisted today that it will be willing to cut interest rates even further if necessary to help stimulate economic recovery in the Eurozone. Addressing a news conference after the ECB held rates at a record low 0.75%, ECB president Mario Draghi said discussion at the monthly meeting had been extensive and [...]
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7th February 2013
ECB rate left unchanged at 0.75%
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 have some real breathing space with a poll of economists last [...]
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10th January 2013
ECB rate remains unchanged at 0.75%
The European Central Bank has left its key interest rate at its record low of 0.75% following their meeting today. Speaking at the gathering of the bank’s 23 member governing council, ECB president Mario Draghi said the euro zone economy has shown signs of stabilising in recent weeks. He admitted, however, that it remained short [...]
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19th October 2012
Troika would accept a property tax alternative, insists Fianna Fáil
The Troika is “not wedded” to a property tax and is open to the measure being replaced by an alternative that would raise the same revenue, Fianna Fáil finance spokesman Michael McGrath has said. He also said officials from the European Union, International Monetary Fund and European Central Bank had not suggested a blanket ban [...]
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no way has it bottomed out as the next budget will crucify us even further. Overspending in heal...
