The volume of new mortgage agreements amounted to €714 million in June 2019, new Central Bank figures show.

This brings the total value of new agreements to €3.8 billion for the first half of 2019, an increase of 12% on the same period the previous year.

Weighted average

The weighted average interest rate on all new mortgages agreed in Ireland stood at 2.99% in June, down 13 basis points on the same month the previous year.

The average for the euro area stood at 1.61% in June, although the rate varied considerably across countries.

Fixed-rate mortgages (including renegotiations) accounted for 72% of all new agreements in the three months to June, compared with 81% of new agreements for the same period in the euro area.

Term deposits

Interest rates on new household term deposits remained low at 0.04 per cent, down one basis point from the previous month. Equivalent euro area rates stood at 0.36 per cent in June.