John Walsh: The curious case of the Irish banks and the non-rising mortgage interest rates

It is worth considering why the domestic banks have chosen not to increase rates at the same pace as some non-bank lenders

Most banks across the EU have used the successive rate hikes by the ECB since last summer to increase mortgage rates at a much steeper incline than the Irish banks

There has been a justifiable outcry in the past few weeks over non-bank lenders such as Pepper Finance increasing mortgage rates. An interesting question is why the Irish domestic banks have not imposed similar hikes.

It certainly isn’t because of competition and the increasing availability of choice for customers. Even though Ireland is one of the fastest-growing economies in the EU, it remains one of the most under-banked markets in the bloc.

Bank of Ireland, ...