Economics
Record January for mortgage lending
Tuesday, 28 February 2006
Figures from the Central Bank show that there was a strong start to mortgage lending in 2006, with the annual rate of growth climbing to a new record of 28.8% in January. This compared with 28.5% in December.
The volume of new mortgage lending is usually lower in January than in other months, but the €1.5 billion monthly increase was the strongest to be recorded in any January.
The annual rate of mortgage lending growth was faster than non-mortgage lending growth for the first time since June last year. Non-mortgage lending rose at an annual rate of 28.5%, down from 28.7% in December.
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The overall rate of private credit growth was 28.8%, unchanged from December.
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