Clare Fm - Podcasts

A Clare financial advisor claims those on tracker mortgages could see a significant reduction in their monthly payments if the ECB interest rate is lowered. The European Central Bank is expected to reduce its interest rates by a quarter of a percent this lunchtime which will be the first cut following 10 successive hikes since July 2022. CSO figures indicate mortgage interest payments in Ireland soared by 21% in the year to April, while the period of April to 2022 to 2023 saw a 41% surge in payments. Tommy Corbett of Carey Corbett Financial Solutions has been telling Clare FM's Seán Lyons the measure will offer some relief to those who've struggled with mortgage payments in recent times, it may hurt people with money on deposit.