The European Central Bank has dealt another blow to mortgage holders this afternoon, as they confirm another interest rate hike.
Another 0.75% increase in interest rates has been confirmed this afternoon.
Tracker mortgage holders are set to be hit with higher repayments from next month after this afternoons announcement from the ECB.
There are almost half a million people in Ireland on either tracker or variable mortgages that will be hit by higher ECB interest rates.
The latest hike means tracker mortgage rate holders will be facing an additional €34 in higher payments for every €100,000 they owe.
Today’s announcement is another significant effort to address Europe’s high inflation, but it may not do much to help. Much of the problem is linked to rising energy prices.
So another interest rate hike could be on the way in December.
