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Feb 24 2020, 08:05 GMT
AIB Group
Cuts to fixed rate mortgage offers
DAVY VIEW
Following last week’s rate reductions by KBC, AIB has quickly announced cuts to its fixed rate products of up to 30bps for 3-year and 5-year offers. Continued new business pricing cuts market-wide are to be expected. However, notwithstanding the recent increase in pricing action, the rate on outstanding mortgage stock remains relatively static. This reflects the roll-off of tracker mortgage loans and an increased consumer preference for fixed rates and a longer fixed duration.
