Irish residential mortgage lending in February fell to an annual rate of 4.9% - - the lowest since the mid-1980’s
Mar 31st, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Central Bank said today, that after a relatively strong start to the year for Irish residential mortgage lending, the net increase in February was just €8 million. The annual rate of increase in residential mortgages (inclusive of securitised mortgages) declined to 4.9 per cent in February, from 5.4 per cent in January. This occurred despite lower interest rates and a decline in house prices of 2.1 per cent during the first two months of 2009. The February growth rate was the lowest since the mid-1980's.
