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Mortgage rates reduction upcoming?

  • 11-12-2020 10:46am
    #1
    Mimon
    Registered Users, Registered Users 2 Posts: 1,473 ✭✭✭


    My first five year fixed rate is up in April. Looks like I will be getting 3% for another 5 year term.

    Was hoping with Avantcard entering the market here that I may have been looking at something closer to 2.5% from BOI.


    Are BOI likely to drop their rates before April?


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,853 Mod ✭✭✭✭Henry Ford III


    Impossible to know. Rates are pretty low already btw.


  • #3
    Mimon
    Registered Users, Registered Users 2 Posts: 1,473 ✭✭✭Mimon


    Henry Ford III wrote: »
    Impossible to know. Rates are pretty low already btw.

    Sorry just see your reply now. In a European context ours are insanely high!


  • #4
    sternn
    Registered Users, Registered Users 2 Posts: 929 ✭✭✭sternn


    Mimon wrote: »
    Sorry just see your reply now. In a European context ours are insanely high!

    They need to pay banker's bonuses somehow :D


  • #5
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,853 Mod ✭✭✭✭Henry Ford III


    Mimon wrote: »
    Sorry just see your reply now. In a European context ours are insanely high!

    It's the margin that's high here. Hard to see that changing tbh.


  • #6
    FastFullBack
    Registered Users, Registered Users 2 Posts: 1,466 ✭✭✭FastFullBack


    Mimon wrote: »
    My first five year fixed rate is up in April. Looks like I will be getting 3% for another 5 year term.

    Was hoping with Avantcard entering the market here that I may have been looking at something closer to 2.5% from BOI.


    Are BOI likely to drop their rates before April?

    Why not switch? Ulster Bank offering 2.2% 5 year fixed.


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