Irish borrowers pay third highest euro area mortgage rate

Residents of the Republic continue to pay higher mortgage interest rates than most of their European counterparts, new figures show. The average interest rate on new Irish mortgage contracts was 2.8% in May, down seven basis points from the same month a year earlier. This compares to an EU average of 1.27 percent and means mortgage holders in the Republic …

Australia has the second highest mortgage debt in the OECD

Australia has the second largest mortgage debt as a percentage of GDP among OECD countries, according to a new report. OECD research showed Australia had the second largest mortgage debt in 2020, just over 90 percent of GDP, behind Switzerland’s total, which accounts for almost 120 percent of GDP. In terms of mortgage burden, expressed as a percentage of disposable …

Consumers in the Republic pay the second highest mortgage rates in the euro area

People in the Republic continue to pay higher mortgage rates than most of their European counterparts, although the state is now lagging behind Greece. The average interest rate on new Irish mortgage contracts was 2.8% in April, up two basis points from the same month a year earlier, according to Central Bank figures. This puts the state just behind Greece …

Irish banks charge the highest mortgage rates in the eurozone

Irish banks charge the highest mortgage rates in the euro area, according to the Central Bank of Ireland (CBI). The regulator’s latest monthly interest rate data shows the average rate applied to new mortgages here over the past 12 months was 2.79%. This compares to a euro area average of 1.26 percent. The differential costs Irish consumers almost € 80,000 …

Irish consumers still pay the highest mortgage rates in Europe

Irish consumers still pay a massive premium on mortgage products compared to their European counterparts. Figures from the Central Bank show that the average rate applied to new mortgages here in January was 2.79 percent, compared to an average of 1.35 percent in the eurozone. The Irish rate was the highest in the euro area. It is estimated that the …

Edmonton and Calgary have highest mortgage deferral rates in Canada during pandemic

A higher percentage of homeowners in Edmonton and Calgary have deferred their mortgage payments than in any other major city in Canada, according to figures shared by the Canada Mortgage and Housing Corporation. In Edmonton, 21% of mortgages were deferred in August, according to a list tweeted by CMHC President Evan Siddall. Calgary followed closely with 18 percent. Overall, deferrals …

Alberta has the highest mortgage deferral rates in Canada

About one in five mortgage loans in Alberta remains on hold, the highest rate of any province in the country, according to the Canada Mortgage and Housing Corporation. CMHC President and CEO Evan Siddall said in a tweet Tuesday that in July 21% of mortgages in Alberta were deferred. The second highest deferral rates were found in Saskatchewan and Newfoundland, …

The 25 ZIP Codes with the Highest Mortgage Debt

Experiential consumer reporting agency reviewed customer credit data for the first quarter of 2019 at identify the 25 best postal codes with the highest mortgage balances. This study found that California has the most postcodes in debt, with 17. The other eight out of 25 are split between New York and Connecticut. New York City alone is home to four …

10 States With The Highest Mortgage Closing Costs

Housing markets with the most expensive homes don’t always have the highest closing costs due to differences in local tax policy, but there may be some correlation. The national average mortgage closing cost is $ 4,876, but some state-level or local-level tracked per-loan totals can exceed five digits. Expenses like title, appraisal, registration fees, inspection services, surveys and in some …