lowest interest rate on mortgage u have seen

[billdoolinn]

Hey, curious what were the lowest rate everybody has seen in recent years on their mortgage offers by Irish bank? Say in year 201x and onwards.

I entered fixed rate in 2021 at about 2.6%. average is around 4.5% now and I felt it could be peaked anytime soon.

hence was thinking what's the lowest rates people have seen bank offered back in the days to see if I should enter 1 year fixed, then roll into longer terms when it gets down again to somewhere around 1%+ if that's even realistic

Thanks

 

[renny562000]

@billdoolinn I locked mine in for 1.95% for 7 years with avant.

Plus 1500 cash back.

Total luck, as the term was up with Ulster Bank at the time, and they offered the best rates.

 

[jesrdking]

@renny562000 Wait, what???

I bought in 2021 and was offered 1.95% for 7 years with Avant but there was no mention of cash back. Then Avant brought out their 20 year fixed and I took 20 year @ 2.45%, again no cash back.

I went with a broker and my loan was pretty small (€140k). Did the broker pocket my cash back?

 

[tentmaker17]

@jesrdking Can't answer the cash back part but I'd say you're pretty happy nowadays with your 20yr 2.45% rate

 

[jesrdking]

@tentmaker17 Of course I am. There’s always an element of luck, could be good or bad, on when you enter the market and I was lucky for sure.

 

[unashamedchristian27]

@jesrdking Hard to see how a 20 year 2.45% rate would ever actually be bad.

How much lower could it possibly go?

 

[penfire1]

@jesrdking That rate was only for people with an LTV below 60%

 

[renny562000]

@jesrdking If I remember correctly, the 1.5k was only for ulster bank customers.