02/06/2022
Banking & Payments Federation Ireland Mortgage Update 2022
A total of 4,304 mortgages were approved in April 2022 – first-time buyers (FTBs) were approved for 2,296 mortgages (53.3% of total volume) while mover purchasers accounted for 923 (21.4%).
• The number of mortgages approved fell by 5.9% month-on-month and by 1.3% compared with the same period last year.
• Mortgages approved in April 2022 were valued at €1,164 million – of which FTBs accounted for €635 million (54.5%) and mover purchasers for €287 million (24.7%).
• The value of mortgage approvals fell by 3.7% month-on-month and rose by 6.9% year-on-year.
• Re-mortgage/switching grew by 37.2% in volume terms year on year to 775 and by 43.1% year-on-year to €206 million over the same period.
ECB Rate increases - Time to fix? Time to switch?
The European Central Bank's chief economist, Professor Philip Lane has signalled that interest rates in the euro area will go up by 0.25% in July and by the same amount again in September, according to RTE's Robert Shortt report yesterday.
