Little respite for householders

AIB's rate rise comes with a warning that further hikes may still be on the way, writes Emma Kennedy, Personal Finance Correspondent.

6th October, 2012
Little respite for householders
Mortgage rates are creeping up again. Photo: Thinkstock

Despite the European Central Bank's decision last Thursday to leave interest rates unchanged at the historic low of 0.75 per cent, mortgage rates are creeping up again, meaning more financial pressure on already-struggling households.

Just last week, AIB announced plans to increase its mortgage rates for those with a variable-rate loan. AIB's decision comes just weeks after a similar move by Bank of Ireland, and homeowners should brace themselves for more ahead.

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