Economic and Investment Outlook

House price increases slowing Irish mortgage rates moving slower than other countries House prices have peaked in most countries but Irish prices declining at slower rate 102 Pass-through from ECB hikes to mortgage rates much less than seen in other countries Mortgage interest rate on new lending for house purchase 98 སྟྲ $ 8 8 8 ° Finland Portugal Italy Greece Netherlands 0.5 Ireland Austria I I I I I I I I -12-10 -8 -6 -4 -2 0 2 4 6 8 10 12 Germany Months since peak in house prices Luxembourg Canada Germany United Kingdom Euro Area Netherlands Norway United States Sweden Finland Belgium Spain Cyprus New Zealand - Ireland France Source: StatCan, CBS, Nationwide, S&P Global, EUROPACE, Real Estate Norway (Eiendom Norge), REINZ, Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency SCB, CSO, StatFin 1.0 1.5 2.0 2.5 3.0 excludes revolving loans and others ▲ 1/2022 6/2023 3.5 4.0 4.5 Source: ECB 49 69

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