Bernard Durkan (Kildare North, Fine Gael)
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88. To ask the Minister for Finance the extent to which mortgage interest rates applicable here compare with the rest of Europe; and if he will make a statement on the matter. [21689/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Central Bank of Ireland has informed me that the most recently available statistics on interest rates charged on new mortgage business in the euro area are detailed in the table. These statistics are harmonised across the euro area, and relate to euro-denominated lending to euro area residents, broken by broad interest rate type; variable and fixed. There is no breakdown available for property type. Therefore, the attached table relates to rates for PDH, BTL and holiday homes.

Notes:

* These rates for IE exclude loan renegotiations. There is limited data availability of these rates for other euro area countries. Rates available on a comparable basis include renegotiations.

1. New business comprises all financial contracts which specify for the first time the interest rate, including all new (re)negotiations of existing loans. Detailed definition can be found.

2. Euro-denominated loans for house purchase; total floating rate or initial rate fixation to euro area households (percentages per annum, rates on new business)

3. Euro-denominated loans for house purchase; floating rate or initial rate fixation of up to one year to euro area households (percentages per annum, rates on new business)

Source:

- ‘Total’ and ‘variable’ rates can be downloaded from the ECB’s user-friendly ‘Euro area statistics’ pagehere.Select ‘loan for house purchase, total’ and ‘loan for house purchase, x < 1Y’. Select ‘Euro area’ and ‘Ireland’ and click ‘Download’. A link will appear under the series selected, and when clicked will open an excel file with all individual euro area countries rates from current month back to 2003. The caveat on the IE rate is that it impacted by renegotiations. A more relevant comparative source for IE is found in columns D and F in Table B.2.1, found here.

- ‘Fixed’ rates by euro area country can be downloaded fromhere.A more relevant comparative source for IE is found in columns D and F in Table B.2.1, found here.

- Specific rates for Ireland by property type are available in Table B.3.1 of the Central Bank of Ireland Retail Interest tableshere, for which there are no comparative euro area rates.