Two thirds of all new mortgage agreements over the past year were standard variable rate arrangements, according to the Central Bank.
It's significantly above the equivalent euro area share where fixed rates are more commonplace.
New mortgages to the value of €4.5 billion were issued in the twelve months to the end of June, according to the bank's monthly Retail Interest Rate statistics.
The figure for the month of June stood at €417 million.
The weighted average interest rate on all new mortgage agreements over the year declined by 0.3% to 3.56%.
These figures exclude renegotiations of loan agreements.
€300 million of renegotiated loans for house purchase were agreed in June with an average interest rate of just over 3%.
The majority of these were standard variable rate loans.
Meanwhile, interest rates on household deposits remained fairly subdued at 0.13% in June.
Deposit rates fell by 0.13% over the year.
Fixed rates absent from market
The Professional Insurance Brokers Association said the dominance of variable rate mortgage arrangements in the market pointed to the lack of a proper long term fixed rates structure.
"Good long-term fixed interest rates for periods of 15, 20 and 25 years should be the norm, particularly following the property boom," Rachel McGovern, Chief Operations Officer of PIBA said.
She pointed out that there was just one Irish lender offering a 10-year fixed interest rate.
PIBA believes there's still a lack of sufficient competition in the Irish market.
