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News At One: George Lee, Economics Editor, reports that mortgage approval levels are at their lowest in 16 years
According to monthly statistics from the Central Bank, the growth rate dropped to 11.4%, which is the lowest annual rate of increase since May 1992.
April is historically a slow month in terms of mortgage lending because of Easter, but this year Easter fell in March.
The total amount owed by residential mortgage borrowers is now €143.4bn.
In April the amount owed in overdrafts fell by €274m.
Outstanding indebtedness on credit cards increased by 7.2% compare with the April last year, but it decreased since March.
