80,000 borrowers will feel some strain from increasing interest rates and 50,000 will experience considerable difficulties, a study by IIB Bank and the Economic and Social Research Institute has found.
However, the survey said the financial position of Irish consumers in general is very healthy.
There have been three interest rate increases since the beginning of the year. There is likely to be two more before the end of 2006.
For many people who have bought a home this will be the first time in five years they will have encountered an increase in rates.
Today's study by IIB Bank and the ESRI says most borrowers are well prepared for a rise.
Overall the value of people's homes and the money in their deposit accounts exceed their borrowings by €440 billion.
But some people are already stretched and rising interest rates will put them under more pressure. The increases will come at a time when fuel prices and the general cost of living are already rising.
Speaking on RTÉ Radio 1’s News at One, David Duffy, an economist with the ESRI, said that the survey found those aged between 40 and 49 are more likely to have debt and will find it most difficult to meet repayments.
