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Lending to Irish households falls by 3.6%

Credit to Irish households has continued to fall on both an annual and quarterly basis. The Centr...
Newstalk
Newstalk

12.23 9 Jun 2014


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Lending to Irish households fa...

Lending to Irish households falls by 3.6%

Newstalk
Newstalk

12.23 9 Jun 2014


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Credit to Irish households has continued to fall on both an annual and quarterly basis. The Central Bank says credit to households here was at €97.8 billion at the end of March.

This is a quarterly decline of 1.2% and an annual decrease of 3.6%.

The total amount of loans outstanding for house purchases was at €121.9 billion, down from €122.6 billion on the same period last year.

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While the total deposits held in resident credit institutions by Irish households were €85.6 billion - a drop of 1.5%.

The annual rate of change in loans for house purchases of -3.1% was the 17th consecutive quarterly decline.

Floating rate mortgages - including standard variable rate, tracker rate and those with a fixed rate up to one year - accounted for 94% of the outstanding amount of loans for house purchases, while fixed rate mortgages accounted for 6%.

Read the full report here


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