New mortgage agreements in Ireland carried an average rate of 3.52 per cent in September, slightly below August and the euro-area average. Fixed-rate loans accounted for most new borrowing and became cheaper, while variable rates increased. The total value of new mortgage agreements rose from the previous month to 1.4 billion euros.
Ireland’s average rate on new mortgage agreements was 3.52 per cent in September.[1], [2]
The rate fell 1 basis point from August and 7 basis points from a year earlier. The Central Bank of Ireland published the statistics on 11 November. The euro-area average was 3.64 per cent, placing Ireland 12 basis points below that level.[1]
Fixed-rate agreements accounted for 94 per cent of new mortgage volume. Their average rate declined 2 basis points over the month to 3.47 per cent. New variable-rate mortgages moved in the opposite direction: the rate increased 14 basis points monthly to 4.30 per cent, also 22 basis points above a year earlier. The overall mortgage figure is weighted by agreement volumes rather than being an advertised product price.[1]
New mortgage agreements totalled 1.4 billion euros, an increase of 103 million euros, or 8 per cent, from August. Renegotiated mortgages, counted separately, amounted to 595 million euros. Fixed rates accounted for 94 per cent of those renegotiations, with renegotiated fixed-rate loans averaging 3.23 per cent. The statistics cover all Irish-resident banks from November 2025; a methodological change introduced in August 2026 affected the series from that starting point.[1]
