Menu
30/06/2009
Mortgage Value Dropping As Market Slows
News today that the value of outstanding mortgage loans fell by €18 million in May - as repayments accelerated ahead of the value of new lending - is being blamed on continuing low levels of activity in the housing market.
That's according to monthly Central Bank data which shows that the latest figures are an emerging trend, first noted in April this year.
Outstanding mortgage debt last month stood at €148.2 billion with the bank saying the amount of debt has increased by only €296 million so far this year, compared to €4.6 billion over the same period in 2008.
This brought the annual rate of increase in mortgage lending to a record low of 2.6% in May, from a revised 3.3% in April.
The overall rate of private-sector credit growth also declined by almost €1 billion last month, following a drop of €1.8 billion in April, bringing the annual rate of credit growth to 0.8%.
This is the lowest on record.
Meanwhile, credit card repayments by Irish residents also outstripped new borrowings by €23 million last month, following a trend evident since the start of the year.
The annual rate of increase in credit card indebtedness was 0.1% in May, again the lowest on record.
(BMcC/JM)
That's according to monthly Central Bank data which shows that the latest figures are an emerging trend, first noted in April this year.
Outstanding mortgage debt last month stood at €148.2 billion with the bank saying the amount of debt has increased by only €296 million so far this year, compared to €4.6 billion over the same period in 2008.
This brought the annual rate of increase in mortgage lending to a record low of 2.6% in May, from a revised 3.3% in April.
The overall rate of private-sector credit growth also declined by almost €1 billion last month, following a drop of €1.8 billion in April, bringing the annual rate of credit growth to 0.8%.
This is the lowest on record.
Meanwhile, credit card repayments by Irish residents also outstripped new borrowings by €23 million last month, following a trend evident since the start of the year.
The annual rate of increase in credit card indebtedness was 0.1% in May, again the lowest on record.
(BMcC/JM)
Related Irish News Stories
Click here for the latest headlines.
28 September 2018
Latest Monthly Homeless Figures 'Meaningless'
The latest monthly homeless figures have been described as "meaningless" by Sinn Féin Housing spokesperson Eoin Ó Broin. Deputy Ó Broin made the comment after the Minister for Housing Simon Coveney told the Housing Committee this afternoon that an additional 741 people have been removed from the official figures over the past few months.
Latest Monthly Homeless Figures 'Meaningless'
The latest monthly homeless figures have been described as "meaningless" by Sinn Féin Housing spokesperson Eoin Ó Broin. Deputy Ó Broin made the comment after the Minister for Housing Simon Coveney told the Housing Committee this afternoon that an additional 741 people have been removed from the official figures over the past few months.
07 May 2010
Unemployment Rise Faltering
Unemployment levels across the State are levelling out. New figures from the Central Statistics Office (CSO) show that the numbers signing on the live register decreased by a small amount in April. Seasonally adjusted figures show the Live Register fell by 500 during April, to stand at 432,500 at the end of the month.
Unemployment Rise Faltering
Unemployment levels across the State are levelling out. New figures from the Central Statistics Office (CSO) show that the numbers signing on the live register decreased by a small amount in April. Seasonally adjusted figures show the Live Register fell by 500 during April, to stand at 432,500 at the end of the month.
11 November 2013
ILCU Allays Members' Fears
The Irish League of Credit Unions (ILCU) has issued a statement in relation to Newbridge Credit Union. Over the weekend, it was announced that Newbridge Credit Union had been transferred to Permanent TSB, but ILCU has since reassured its members that credit unions remain strong and secure.
ILCU Allays Members' Fears
The Irish League of Credit Unions (ILCU) has issued a statement in relation to Newbridge Credit Union. Over the weekend, it was announced that Newbridge Credit Union had been transferred to Permanent TSB, but ILCU has since reassured its members that credit unions remain strong and secure.
31 March 2009
Business Lending Falls Despite Recapitalisation
Private sector lending by Irish Banks is continuing to fall despite the cash injection into Irish banks. Figures published today by the Central Bank show credit for the private sector has fallen from 30% in December 2005 to just 5% in December last year.
Business Lending Falls Despite Recapitalisation
Private sector lending by Irish Banks is continuing to fall despite the cash injection into Irish banks. Figures published today by the Central Bank show credit for the private sector has fallen from 30% in December 2005 to just 5% in December last year.
26 October 2009
Government Challenges Unions To Find "Better Ideas"
The government has challenged the state's unions to find "better ideas" for dealing with the looming cuts that need to be made in December's budget. Minister of State for Science Conor Lenihan said yesterday that the government hoped to achieve €1.
Government Challenges Unions To Find "Better Ideas"
The government has challenged the state's unions to find "better ideas" for dealing with the looming cuts that need to be made in December's budget. Minister of State for Science Conor Lenihan said yesterday that the government hoped to achieve €1.
-
Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
