The Government cannot bring in measures to protect people from rising interest rates, the Finance Minister has told Pat Kenny.
Paschal Donohoe was speaking as the European Central Bank (ECB) prepares to hike its rates once again later today.
It is anticipated there could be an increase of 0.75% announced, with as many as 500,000 tracker and variable rate mortgage holders affected.
A further increase is expected when the ECB meets again in December
Minister Donohoe told The Pat Kenny Show there are options available for mortgage holders.
"Changes that are happening in interest rates, I accept, are going to have an effect, and I do acknowledge that", he said.
"Over the recent period, over 80% of the new mortgages that are being issued are fixed-rate mortgages, which does offer a degree of insulation for the future.
"There are still switching opportunities available from banks to allow mortgages holders to get better value.
"I, nor indeed any government, cannot bring in measures that can compensate for what's going to happen to changes in interest rates.
"Indeed, if we were to do so, it would be counterproductive and potentially a new threat.
"However, we are bringing in other measures to help with the cost of living overall," he added.