Hello everyone, John Coleman here, Ireland’s mortgage broker.

Welcome to October, everyone, and it’s almost that time of year again to start looking towards the holidays. (Almost but not yet!)

And I apologize that this month’s recap isn’t a video as usual, but I had some technical difficulties so thought this would suffice. But the content we have this month is helpful as usual, so I hope you find it useful.

In this September recap (and look ahead), I cover:

1. Interest rates

• The European Central Bank raised rates by a quarter percent.
• That price increase hasn’t hit Ireland’s banks just yet, but will shortly.
• But expect this to be the last rate increase for 6-9 months.
• Look for rates to start coming down in the back end of next year.
• Of course, there are important implications for choosing your mortgage rate. 

2. New competition for the market

• There’s new competition in the Irish mortgage market.
• As Revolut has entered our mortgage market.
• It’s yet to be determined if Revolut will serve as a broker or a lender.
• But that should bring more competition and gives consumers more choices, which should drive prices down. 

3. Rumors

• While it’s not certain yet, the budget for the 10^th of October is expected to include changes.
• Those would help first time buyers in the second-hand market.
• We’ll expose any changes or when things are finalized.
• And it’s not necessarily a rumor that bank service is getting a little better, but worth noting.

Enjoy Your October!

Best,

-John Coleman,
JC Mortgages