It's reported this morning that the country's leading mortgage lenders have agreed to cut their variable rates for mortgages - or offer their customers new deals.
After months of political pressure on AIB, Bank of Ireland, Ulster Bank, Permanent TSB and others - relief now could be on the way for 300-thousand mortgage holders.
As it stands Irish borrowers are charged up to 350 euro per month more in interest rates than the EU average - with our lenders reluctant to pass on rate cuts from the ECB.
According to the Irish Independent, the Finance Minister's series of meetings with the lenders has been successful.
It says variable rates will be cut by around nought-point-25 per cent.
And there's another option on the table. Homeowners could be given the chance to swap their variable rate mortgage for a fixed-rate one.
The ultimate aim is to get all borrowers on interest rates of below 4 per cent. The new measures should be in place by July.
