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RTE state 3.6% as average SVR mortgage.

  • 19-05-2016 12:57pm
    #1
    sKeith
    Closed Accounts Posts: 13,404 ✭✭✭✭


    RTE says "Standard variable mortgage rates are an average of 3.6% in Ireland"

    Where do RTE get their mortgage from. I find it very hard to believe this figure.


    Source: http://www.rte.ie/news/business/2016/0518/789344-dail-mortgage-rates-bill/

    Getting the avegage of the 66 variable mortgages on mortgage.ie come out as 3.99%


Comments

  • #2
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,243 Mod ✭✭✭✭godtabh


    sKeith wrote: »
    RTE says "Standard variable mortgage rates are an average of 3.6% in Ireland"

    Where do RTE get their mortgage from. I find it very hard to believe this figure.


    Source: http://www.rte.ie/news/business/2016/0518/789344-dail-mortgage-rates-bill/

    Getting the avegage of the 66 variable mortgages on mortgage.ie come out as 3.99%

    They are rates that are currently available. what about historic rates?


  • #3
    newbie2
    Registered Users, Registered Users 2 Posts: 2,477 ✭✭✭newbie2


    That figure was in a letter from 11 Ireland MEPs to the ECB President.


  • #4
    sKeith
    Closed Accounts Posts: 13,404 ✭✭✭✭sKeith


    standard variable rates are exactly that. the banks current variable rate. they have different values for different LTV's. You should not use historic values to work out current average of SVR.


  • #5
    L1011
    Registered Users, Registered Users 2 Posts: 71,113 ✭✭✭✭L1011


    sKeith wrote: »
    Getting the avegage of the 66 variable mortgages on mortgage.ie come out as 3.99%

    That doesn't work out the average paid, though. If more people are on the low rates it will bring the average paid lower.


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