Irish mortgage interest rates increased slightly in August, new figures from the Central Bank show.
The average interest rate on a new mortgage here increased from 4.06% in July to 4.10%.
This meant Ireland had the ninth lowest mortgage rates in the Eurozone alongside the Netherlands.
The lowest rate was recorded in Malta at 1.92%, while the highest rate was in Latvia at 6.26%.
The Eurozone average rose to 3.95% - over three times the rate it was two years ago.
"Given that the main ECB lending rate, of which mortgages and trackers are priced, is now 4.50%, it's amazing how relatively low mortgage rates in Ireland still remain," said Daragh Cassidy, Head of Communications at mortgage broker bonkers.ie said.
"Despite the ECB hiking rates by 4.50 percentage points since July of last year, the average rate in Ireland has only gone up by around 1.50 percentage points. For now at least," Mr Cassidy added.
However, Mr Cassidy pointed out that mortgage rates in Ireland were very high to begin with.
He also highlighted that today's figures relate to mortgage agreements in August, and which would have been applied for several weeks beforehand.
"The average rate for someone applying for a mortgage today is probably closer to around 4.50%," he added.
Mr Cassidy warned that rates look set to go higher over the coming months.
"Although it looks like the ECB has reached the end of its current rate hike cycle, banks still have to react to a lot of the previously announced rate hikes," he said.
"Even if the ECB doesn't hike rates again, the main Irish banks will probably hike their variable and new fixed rates by around another 0.50 percentage points over the coming months. Maybe more," he added.
Mr Cassidy said there’s still a lot of "super-cheap" money in the wider banking system from all the liquidity pumped into it by the ECB during Covid.
"Once that washes through the system and banks start having to borrow more and more at today’s much higher rates, that’ll eventually feed through into higher loan and mortgage rates for consumers," he added.
