Windsor Framework & Northern Ireland Protocol Overview
Ireland less vulnerable to rising interest rates
But could pose a greater threat in the medium term
HH Debt % Gross Disposable Income
Low share of adjustable rate mortgage and low HH debt to
income ratios- Ireland less exposed to rising interest rates
250
225
200
175
150
125
FR
NO
ASTL
NL
DK
CA
SE
Percent
...but most mortgages in Ireland exposed to higher interest
rates over the medium term
100
90
80
70
60
50
40
FI
30
UK
Less vulnerable
More vulnerable
20
10
IE BE
JP
PO
0
T
100
2015
2016
2017 2018
2019 2020
2021
2022
US
DE
ES
AT
IT
75
Trackers
Over 3 yrs fixed
10 20 30 40
50
60
70 80 90 100
| Variable & up to 1 yr fixed (excl. trackers)
1-3 yrs fixed
New lending up to 1 yr fixed
Share of Adjustable-Rate Mortgages in New Mortgage Issuance
Source: OECD, ECB, FHFA
Source: Central Bank of Ireland
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
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