Irish Permanent has reduced its three- to 10-year fixed rate mortgages.

The three-year fixed mortgage rate is 5.95 per cent, down from 6.29 per cent; the five-year rate is 6.1 per cent, down from 6.85 per cent; and the 10-year rate is 6.8 per cent, down from 7.2 per cent. The company also cut its four- and seven-year rates.

The new rates apply to both new and existing business.