Tracker mortgage holders will be immediately impacted
The European Central Bank is set to announce a further hike in interest rates shortly.
It's expected there will be a quarter of one percent rise.
This increase will be the 7th by the ECB in less than a year.
The current base rate is at 3 percent, meaning mortgage holders face higher repayments due to rising interest.
Tracker mortgage holders will be immediately impacted, as their interest rates go up in line with the ECB.
There could be an increase in rates for new fixed and variable applicants, but that's up to the banks.
There could be further price hikes to come, with the ECB to meet again in June and July.

€1.2m Approved For Zipline And High Ropes Adventure Centre At Donadea
Christmas Appeal To Adopt Dogs As Euthanasia Figures Rise
Speed Enforcement To Increase In Kildare With 21 New Camera Zones To Be Rolled Out In January
Over 400 Motorists Caught Speeding So Far Today, Including A Driver In Kilcock
Transport Minister In Discussions With Irish Rail About Extending Late-Night Trains Beyond Christmas
Tadhg And Mary Should Be Looking Forward To Christmas, Say Gardai As Fresh Appeal Launched
Bus Shelters Treated As Luxury Rather Than Standard, With 500 Kildare Bus Stops In Need Of Upgrades
Recruitment Announcements Don’t Add Up As Garda Numbers Stagnant In Kildare South, Says Local TD