New figures from the Central Bank show that the weighted average interest rate on new Irish mortgages at the end of March rose slightly to 3.52%, up from 3.51% in February but down 24 basis points from the same month last year.
Today's figures show that the equivalent euro area average was 3.40%, down from 3.41% in February.
Irish mortgage rates continue to be the seventh highest in the euro area.
Today's figures show that Latvia had the highest average new mortgage rates in January with a rate of 4.12%, followed by Estonia at 3.93% and Lithuania at 3.8%.
Bulgaria had the lowest rate at 2.44%, followed by Malta at 2.55% and Spain with an average mortgage rate of 2.76%.
The Central Bank said the weighted average interest rate on new fixed rate mortgage agreements, which constitute 90% of the volume of new mortgages, was 3.46% in March, unchanged from the previous month and down 12 basis points from the same month last year.
Meanwhile, the weighted average interest rate on new variable rate mortgage agreements was 4.05% in March, down four basis points from February and 37 basis points lower in annual terms.
The total volume of pure new mortgage agreements increased by 3% to €932m in March compared to the same month last year, the CSO added.
