The 32 year old from Killyleagh in Co Down, died last night following an assault in Portaferry on Sunday 14 October.
The 28 year old male, who was charged with GBH with Intent following the incident in Portaferry on Sunday 14 October.
He and a 19-year-old subsequently appeared in Downpatrick Magistrates Court on Monday 15 October, has now been re-arrested on suspicion of Mr Macrae’s murder.
The 19-year-old was arrested earlier today on suspicion of murdering Mr Macrae.
Both men have been taken to Musgrave Police Station where he is currently being questioned by detectives.