Daily Archives: December 8, 2011

ECB interest rate reduction expected today

ECB interest rate cut of at least 0.25% is expected to be announced at lunchtime today. Good news for mortgage holders, who will save Euro 104.17 per month on a Euro 500k mortgage.
Customers with tracker mortgages will automatically benefit but hopefully the other Irish lenders will pass on the reduction to their variable rate customers. Permanent TSB continues to charge very high rates in an attempt to subsidise their tracker mortgages, but it may be worth digging out any signed documentation and taking some advice. Continue reading

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