The European Central Bank is expected to announce an interest rate cut when they meet today.
The ECB announcement also includes a once-off adjustment in the rate at which mortgages are priced.
Business Journalist, Emmet Oliver, says anyone with a tracker mortgage will do well:
"For tracker mortgage holders, it's going to be a good day. they're going to be getting a lot of financial relief. Those on fixed mortgages obviously need to go in and fix a new rate, depending on what their last arrangement was, they may be going into a much higher rate because the world was very different, a year or two ago but. Nevertheless, that's between them and the bank and the small amount of people who earn variables these days will just have to see what the banks actually announce themselves."
