Only a quarter of owner occupiers in arrears of three months or more have had their mortgages restructured by lenders, according to the Central Bank.
The Central Bank also found that the vast majority of borrowers given reduced payments were only put on these arrangements on a short-term basis.
"Progress on longer-term arrears cases has been relatively limited,'' the Central Bank said in its latest Macro-Financial Review.
The review offers an overview of the current state of the macro-financial environment and an assessment of key risks to financial stability in Ireland.
It shows that less than one fifth of buy-to-let accounts in arrears were classified as restructured.
While 11.9% of mortgages are in arrears of more than 90 days, the value of these home loans is €17.5bn or 16% of residential mortgage portfolios. Similarly, 27% of buy-to-let loans worth €8.4bn were over three months in arrears.
"There has been a significant increase in the level of distressed tracker mortgages since 2010 despite the cut in rates on these mortgages to all time lows," the Central Bank said.
Today's report also includes a survey of economists, analysts and academics regarding their predictions for the residential property market.
It said the prevailing view held by more than half of respondents is that residential property prices will continue to fall this year. But a majority expected higher prices in the next three years.