A 2% rise in eurozone rates has the potential to increase mortgage repayments by approximately €200 a month, Charlie Weston of the
Irish Independent reports.
If the European Central Bank (ECB) interest rate reaches 2%, it could place huge financial pressure on many families up and down the country.
The Central Bank study found that a typical boom-time tracker borrower in their 30s would see their monthly mortgage payment rise substantially, from €760 a month to €932.
For borrowers in their 40s with a tracker mortgage, monthly repayments would jump to almost €900 - a rise of €120.
The research also found that higher mortgage repayments would have a knock-on effect on the Irish economy by decreasing the spending of affected families and households.
European Central Bank rates could start rising in the first quarter of 2018.
Join the conversation on Twitter @HerFamilydotie
