The EBS building society may become the latest financial institution to lower interest rates for fixed rate mortgages next week. Ulster Bank has also confirmed it is looking at the cost of its fixed rate mortgages.

Bank of Ireland cut the cost of its fixed rate mortgages on Thursday following AIB and the Irish Permanent. The cuts follow the reduction in variable rates last month.

Bank of Ireland's revised fixed rates for mortgages are: one year, 6.4 per cent (APR 7.7 per cent); two years, 7.3 per cent (APR 7.8 per cent); three years, 8.35 per cent (APR 8.2 per cent); five years, 8.65 per cent (APR 8.5 per cent); and 10 years, 9.45 per cent (APR 9.6 per cent).

The Irish Permanent's fixed rates are: one year, 6.25 per cent (APR 7.2 per cent); two years, 6.95 per cent (APR 7.3 per cent); three years, 7.95 per cent (APR 7.7 per cent); five years, 8.45 per cent (APR 8.2 per cent); and 10 years 9.45 per cent (APR 9.7 per cent).

AIB's rates are: one year, 6.4 per cent (7.565 per cent APR); two years, 7.15 per cent (7.627 per cent APR); three years, 8.1 per cent (7.939 per cent APR); five years, 8.45 per cent (8.259 per cent APR); and 10 years, 9.45 per cent (9.47 per cent APR).