National Irish Bank and Permanent TSB today reduced mortgage interest rates in response to last week's cut by the European Central Bank (ECB).
The NIB said it would lower interest on fixed rate mortgages by between 0.60 per cent and 0.65 per cent.
The new NIB rates, which come in force by close of business today, will see interest on the standard variable rate mortgages decrease by 0.5 per cent to 4.25 per cent.
Permanent TSB announced a decrease of 0.5 per cent in its variable mortgage rate, making a new standard variable rate of 4.2 per cent.
AIB reduced its standard variable mortgage rate from 4.25 per cent to 3.85 per cent earlier in the week.
EBS building society reduced its rates by the full ECB level of 0.5 per cent, bringing its standard variable mortgage rate down from 4.6 per cent to 4.1 per cent.
Bank of Ireland and First Active also cut their rates this week by half a percentage point, bringing their rates down to match AIB's former level of 4.25 per cent rate.
IIB Homeloans cut its rates last Thursday immediately after the ECB's move.
