Ireland Financial News - Mortgages & Banking » Mortgage growth slumps http://www.eiremortgage.com All about Mortgages & Banking in Ireland Mon, 21 Jun 2010 17:13:16 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Ireland Mortgage growth slumps to 22-year low http://www.eiremortgage.com/2008/11/28/ireland-mortgage-growth-slumps-to-22-year-low/ http://www.eiremortgage.com/2008/11/28/ireland-mortgage-growth-slumps-to-22-year-low/#comments Fri, 28 Nov 2008 11:20:29 +0000 admin http://www.eiremortgage.com/?p=107  Figures from the Central Bank show a dramatic slump in the growth of residential mortgage lending in October.

The annual rate of growth in October fell to 7.6%, the lowest figure since 1986.

The Central Bank described the mortgage figure as ‘exceptionally weak’.

The amount of money lent for mortgages rose by just €26m during October, compared with the average monthly increase of almost €2bn at the height of the housing boom in 2006.

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