Ireland’s property and mortgage market recap for September 2023 🇮🇪
Hello everyone, John Coleman here, Ireland’s mortgage broker with your property and mortgage market recap of September 2023. 🇮🇪
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:
- 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.Â
- 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.Â
- Rumors
- While it’s not certain yet, the budget for the 10th 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
☎️ Tel 01-8102032
📲 Mobile 086 3970039
📩 Email john@jcmortgages.ie
💻 Web www.jcmortgages.ie