Track ECB base rate decisions and average Irish mortgage rates across fixed and variable products — the key drivers of affordability, demand, and investment returns in the Irish property market.
Source: European Central Bank
Indicative trend only. Live data from European Central Bank being integrated.
Unlike the UK, Ireland uses the euro and is directly subject to ECB monetary policy. The Deposit Facility Rate — the primary ECB tool used since 2022 — sets the floor for short-term euro interest rates and feeds directly into Irish variable mortgage rates and new fixed-rate offers within 3–6 months.
Historic ECB rate data provides context for current affordability: after a decade of near-zero or negative rates (2014–2022), the rapid hiking cycle to 4% in 2022–2023 significantly increased mortgage carrying costs and suppressed transaction volumes. The subsequent easing cycle from 2024 is now improving affordability and underpinning renewed price growth.