New Central Bank data shows that the average interest rate on new mortgages in Ireland eased to 3.56% at the end of October—three basis points lower than in September and the lowest level recorded since March 2023.
Across the euro area, the average rate was 3.33%, placing Ireland as the sixth most expensive country for new mortgages, up one position from the end of September.
Latvia recorded the highest mortgage rate in October at 3.96%, followed by Estonia (3.75%) and Germany (3.73%). At the other end of the scale, Malta had the lowest rate at 1.96%, with Spain at 2.67% and Slovenia at 2.8%.
According to the Central Bank, the average rate on new fixed-rate mortgage agreements—accounting for 90% of all new mortgage volumes—stood at 3.49% in October. This represents a two-basis-point monthly decline and a 40-basis-point drop compared with October 2024.
Meanwhile, the average rate on new variable-rate mortgage agreements rose to 4.17% in October, up nine basis points from the previous month but 22 basis points lower than a year earlier.
The data also shows that the total value of pure new mortgage agreements fell to €1.1 billion in October.
In addition, the average interest rate on household overnight deposits remained unchanged at 0.13% in October 2025—the same level observed since December 2024.