Driving mortgage rates down may be bad move
Calculations from the Irish Brokers Association last week estimated that those with a
standard variable rate mortgage would need to work for an extra 11 weeks per year
compared with those on a tracker mortgage in order to be on even terms financially.
Crude as this sounds, it gives a good insight into the level of variation at play in
the mortgage market and highlights why those paying inflated mortgage rates feel
aggrieved.