Euro rates expected to fall by 0.5pc
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- Published:Thursday, February 28th, 2008
Mortgage holders could see interest rates cut by 0.5% before the end of the year, according to the chief executive of Irish Life & Permanent, Denis Casey.
Mr Casey made his prediction while announcing Irish Life’s financial figures for 2007.
Should he prove correct, a cut of 0.5% would save a mortgage holder €30 a month for every €100,000 borrowed over a 20 year period.
Mr Casey said that a reduced supply of new houses is likely to bring about a return to more normal activity levels in the housing market.
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