The number of mortgages in arrears fell for the 15th consecutive quarter during the first three months of the year.
New figures from the Central Bank show 76,422 (10.4% of total) mortgage accounts in the country were in arrears at the end of March, representing a fall of 1.4% on the December 2016 numbers.
The number of accounts in arrears of more than 90 days at the end of the first quarter was 53,100 (7%), which showed a quarter-on-quarter fall of 2.2%.
This was the 14th quarter of decreases in the number of mortgage accounts in arrears of more than 90 days in a row, however, this cohort had an outstanding balance of €10.7 billion at the end of March.
Meanwhile, the category for mortgages in arrears of more than 720 days showed a decline of 7.9% in the first quarter. This category fell for the first time in the third quarter of 2015.
However, 32,953 householder mortgage accounts were in arrears of more than 720 days at the end of Q1, with these accounts having an outstanding balance of nearly €10 billion.
Accounts in arrears over 720 days now constitute 43% of all accounts in arrears, and 90% of arrears balances outstanding.
The Central Bank figures also show 120,894 household mortgages had been restructured at the end of March, with 87% of these restructured loans meeting the new terms of their agreements.
The number of buy-to-let (BTL) mortgages with arrears of more than 90 days also fell (-2.4%) in the first three months of the year.
14,367 BTL loans were in arrears for more than 720 days with an outstanding balance of €4.2 billion, the Central Bank figures also show.
Commenting on the latest mortgage arrears figures, Fianna Fáil Spokesperson on Finance Michael McGrath welcomed the latest reduction but said a renewed focus has to be placed on resolving the high number of long-term arrears cases.
Mr McGrath said: "Several years into this crisis, it is remarkable that 65% of all family home mortgages in arrears have still not been restructured.
"With 33,000 family home mortgages in arrears of two years or more, the Government and the Central Bank need to place a greater emphasis on resolving these cases.
Meanwhile, the Irish Mortgage Holders Organisation said the Central Bank figures confirm that banks "continue to fail to deal with families that are in deep arrears".
In a statement the IMHO said: "The reduction over Q1 2017 of 494 accounts in 720 days arrears or more is pathetic progress and serious questions need to be asked about banks engagement in meaningfully seeking to help those in the most difficulty."
The organisation's CEO David Hall said "the blame for this lies firmly at the door of banks and vulture funds who simply will not accept the need to write off the mortgage debt that they will never recover and allow these families remain in their homes."
