Home > Property > Irish mortgage arrears continue to fall in second quarter

Irish mortgage arrears continue to fall in second quarter

Written by Robert McHugh, on 2nd Sep 2015. Posted in Property

article headline

There has been another fall in the level of mortgage arrears in the second quarter according to new data from the Central Bank.
 
The data shows that the 90+ day owner-occupier arrears rate declined to 9.3%, down from 9.8% in the first quarter of 2015, and the buy-to-let arrears rate fell to 19%, down from 19.7% in first quarter 2015. 
 
According to Davy Stockbrokers, "The improvement in mortgage arrears rates reflects the recovery in the Irish economy. In Q2 2015, there were 118,593 mortgage account modifications, of which 73%, or 86,590, were not in arrears. This proportion is up from 53.0% in 2013 – suggesting that a more realistic view is being taken of the mortgage modifications necessary to restore performance." 

Source: www.businessworld.ie

More articles from Property

image Description

Irish house prices resilient despite rate rises

Read more
image Description

Irish hotel transactions increase in second quarter

Read more
image Description

Annual housing price inflation declining since peak in March 2022

Read more
image Description

Irish mortgage rates rise to highest level in over three years

Read more
image Description

Dublin office market activity in 2022 was 70% higher than in 2021

Read more