90 Ms Burton asked the Minister for Finance his views on the fact that monthly mortgage repayments have increased by approximately €40 to €50 on a €300,000 variable mortgage as a result of the latest quarter point increase by the ECB on 8 March 2007; if he is aware that this is the seventh successive such increase since December 2005, that sub-prime mortgage holders are reported to be spending as much as 25% more a month servicing their mortgages than they did before interest rates started to rise; if he will implement measures to provide clear information for mortgage holders on the effect of projected future interest rate increases on their monthly payments; if his attention has further been drawn to the fact that the European Central Bank has indicated the likelihood of further interest rate rises; and if he will make a statement on the matter. [10253/07]

Summary

90 Ms Burton asked the Minister for Finance his views on the fact that monthly mortgage repayments have increased by approximately €40 to €50 on a €300,000 variable mortgage as a result of the latest quarter point increase by the ECB on 8 March 2007; if he is aware that this is the seventh successive such increase since December 2005, that sub-prime mortgage holders are reported to be spending as much as 25% more a month servicing their mortgages than they did before interest rates started to rise; if he will implement measures to provide clear information for mortgage holders on the effect of projected future interest rate increases on their monthly payments; if his attention has further been drawn to the fact that the European Central Bank has indicated the likelihood of further interest rate rises; and if he will make a statement on the matter. [10253/07]

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Timeline

1. 20 March 2007

   Interest Rates.

   90 Ms Burton asked the Minister for Finance his views on the fact that monthly mortgage repayments have increased by approximately €40 to €50 on a €300,000 variable mortgage as a result of the latest quarter point increase by the ECB on 8 March 2007; if he is aware that this is the seventh successive such increase since December 2005, that sub-prime mortgage holders are reported to be spending as much as 25% more a month servicing their mortgages than they did before interest rates started to rise; if he will implement measures to provide clear information for mortgage holders on the effect of projected future interest rate increases on their monthly payments; if his attention has further been drawn to the fact that the European Central Bank has indicated the likelihood of further interest rate rises; and if he will make a statement on the matter. [10253/07]

   Source: oral

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• Interest Rates.

  xml · EN · 20 March 2007

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• Joan Burton · Asking member
• Minister for Finance · Minister for Finance · Addressed to

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