Irish residential mortgage lending outstanding fell again in August - - down €132m in 2009 compared with rise of €7bn in 2008
Sep 30th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish residential mortgage lending outstanding fell by €84 million in August -- the fifth straight decline. The increase from a year earlier was down to 0.8 per cent in August, from 1.2 per cent in July. Irish private sector credit (PSC) fell 3 per cent in the year to end-August 2009, mainly explained by valuation effects - - writedowns and increased provisions against bad and doubtful debts. Mortgage debt outstanding has fallen by €132 million so far in 2009, compared with a €7 billion increase for the same period in 2008.