Ireland’s property and mortgage market recap for May 2024. 🇮🇪

Ireland’s property and mortgage market recap for May 2024. 🇮🇪

John Coleman here, welcoming you to June with our recap of Ireland’s property and mortgage market in May.

✅ Well, it’s hard to believe but 2024 is already 41% behind us as of June 1st, so it’s time to start getting prepared and get your bank accounts in order if you want to buy a property by the end of the year or even in 2025.

✅ The big news is that this week, we anticipate the ECB drops interest rates. It will probably only be by .25 pct., but hopefully the start of a trend of rate declines.

✅ The big question of course is how quickly Ireland’s banks will follow suit and drop their mortgage rates.

✅ However, in the long-term, this may actually fuel already hot demand, with supply staying level but lower rates bringing more buyers to the market.

✅ If you have a fixed rate, check with your own bank first to see if it makes sense to change your mortgage. And you can always reach out to me if you have questions or want to make sure you’re making the correct move.

✅ There’s a new bank coming to Ireland’s mortgage market, which hopefully brings more competition and options for buyers.

✅ In this video, I will also cover a common bank account mistake I see buyers making which can set them back when it’s time to get approved for a mortgage.

Enjoy your June and hopefully we have some good news for you soon about interest rate reductions!

-John Coleman,
JC Mortgages

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