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Mortgage rate change favors house hunters

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Haven, a subsidiary of AIB that gives out home loans through brokers has cut its mortgage rates, both fixed and variable. This news broke after AIB had made similar reductions, which has now resulted in a mortgage war. Several other banks are now expected to respond to this rate cut with cuts of their own.

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The increase in the European Central Bank interest rate bound to impact Irish borrowers

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According to the Economic and Social Research Institute (ESRI), Irish householders are likely to be affected by the increase in interest rate initiated by the European Central Bank (ECB). A leading government think tank believes that Ireland could be more at risk than any other member of the European Union. Fed chair Janet Yellen warns that this will have major repercussions for Irish homeowners, firms and Exchequer.

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The increase in the European Central Bank interest rate bound to impact Irish borrowers

By | Articles
According to the Economic and Social Research Institute (ESRI), Irish householders are likely to be affected by the increase in interest rate initiated by the European Central Bank (ECB). A leading government think tank believes that Ireland could be more at risk than any other member of the European Union. Fed chair Janet Yellen warns that this will have major repercussions for Irish homeowners, firms and Exchequer.

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Ireland is facing a housing crisis due to the shortage of apartments

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According to Ronan Lyons, an economist and assistant professor based at Trinity College Dublin, there is a marked difference between the number of houses constructed or in construction and the families occupying them. The solution could well be two to three-bedroom apartments for couples without children. Actually, he raised these issues at the 40th annual Dublin Economics Workshop conference in Wexford.

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The housing market highly influences the Irish economy

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A house is the most valuable asset a person can ever own. Consequently housing matters to economic development. While it can improve economic performance and competitiveness, it can also lead to segregation and poverty. As housing is closely linked to consumer spending, a rise in house prices makes homeowners feel more confident and wealthy. This is known as the ‘wealth effect’. The rapid rise in property prices in Ireland has led to an increase in spending on home improvements, holidays and high-value household goods.

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New report warns of impending housing crisis                                              

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The housing crisis is deepening, according to the latest Daft.ie rental price report compiled by Ronan Lyons, Assistant Professor of Economics at Trinity College Dublin.  As stocks are plummeting, rents are soaring, reaching high records. It is forecasted that the next three years could be heading for a 20% rise in house prices as well.

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