Let’s talk about interest rates: How high and how fast will they rise?
Smart Money: ECB will start to raise rates in 2019. What will this mean for mortgage borrowers?
Interest rates on the US and UK have started to rise and it is only a matter of time before the ECB follows suit. Image: Irish Times Graphics
A whole generation of mortgage borrowers have no experience of rising interest rates. But 2019 looks set to be the year when interest rates start to climb again, with implications for borrowers and savers and it appears the era of very cheap money is coming to an end.
The question for borrowers and savers is when the increases will start, how quickly rates will climb and what the rise means for the Irish housing market?