Ireland Financial News - Mortgages & Banking » Mortgage lending drops http://www.eiremortgage.com All about Mortgages & Banking in Ireland Fri, 29 Jul 2011 18:59:08 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Mortgage lending drops to 21-year low http://www.eiremortgage.com/2008/09/30/mortgage-lending-drops-to-21-year-low/ http://www.eiremortgage.com/2008/09/30/mortgage-lending-drops-to-21-year-low/#comments Tue, 30 Sep 2008 12:27:42 +0000 admin http://www.eiremortgage.com/?p=51  Figures from the Central Bank show that the annual rate of growth in mortgage lending dropped to its lowest level in 21 years in August.

Residential mortgage lending was up 9% compared with the same month last year, the lowest annual rate since mid-1987.

The increase in mortgage borrowing in August was €508m, just over half the figure for July. The Central Bank said that while August was usually a quiet month, this figure was ‘exceptionally low’.

The annual rate of growth for all private credit in the economy slowed to a six-year low of 12.9% in August.

The Central Bank also said that new spending and repayments on credit cards were noticeably lower in August than July.

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