Mortgage interest rates for some homeowners in Ireland wil soon be rising again as the ECB starts to raise interest rates in 2022. When the ECB rate was zero – it meant that some people on low tracker mortgages were only paying 0.5% .
The banks are no longer offering trackers to new customers – and probably wish they never had.
If you are thinking of buying a house – take a look at our regularly updated tables of the lowest mortgage rates available in Ireland.
Here is a list of the historic mortgage rates in Ireland going back over the past 30 years. They make interesting- if scary reading.
What would happen if interest rates ever got as high as 16.25% again – (that’s what they were some time in 1982).
Irish Mortgage Interest Rates since 1975
The highest rate reached in each year is shown below – based on the average rates of “representative building societies” from the Central Bank and the CSO
| Year | Highest Mortgage Interest Rate |
| 1975 | 12.5% |
| 1976 | 13.95% |
| 1977 | 13.96% |
| 1978 | 14.15% |
| 1979 | 14.15% |
| 1980 | 14.15% |
| 1981 | 16.25% |
| 1982 | 16.25% |
| 1983 | 13% |
| 1984 | 11.75% |
| 1985 | 13% |
| 1986 | 12.5% |
| 1987 | 12.5% |
| 1988 | 9.25% |
| 1989 | 11.4% |
| 1990 | 12.37% |
| 1991 | 11.95% |
| 1992 | 13.99% |
| 1993 | 13.99% |
| 1994 | 7.49% |
| 1995 | 7.00% |
| 1996 | 6.75% |
| 1997 | 6.9% |
| 1998 | 5.85% |
| 1999 | 5.6% |
| 2000 | 6.09% |
| 2001 | 6.9% |
| 2002 | 4.7% |
| 2003 | 4.2% |
| 2004 | 3.49% |
| 2005 | 3.65% |
| 2006 | 4.86% |
| 2007 | 5.46% |
| 2008 | 5.86% |
| 2009 | 4.16% |
| 2010 | 4.02% |
| 2011 | 4.42% |
| 2012 | 4.33% |
| 2103 | 4.38% |
| 2014 | 4.2% |
| 2015 | 4.05% |
| 2016 | 3.61% |
| 2017 | 3.44% |
| 2018 | 3.21% |
| 2019 | 3.02% |
| 2020 | 2.92% |
| 2021 | 2.8% |
ref : www.cso.ie/