New figures from the Central Bank show that 4.3% of all home mortgage accounts were in arrears over 90 days at the end of September - representing 30,809 mortgage accounts.
It said this continues the incremental downward trend seen over the last number of years and marks the lowest number of accounts in arrears over 90 days since March 2010.
Today's Central Bank figures show that the number of home mortgage accounts in arrears continued to decrease in the third quarter of this year, but at a lower pace than the second quarter.
The number of mortgages in arrears fell by 1% (342 accounts) in the third quarter of 2022 to 45,746 after a decrease of 2,071 in the previous quarter.
Overall, the total number of home mortgage accounts in arrears is down 1,934 accounts or 4% on the same time last year.
The Central Bank said the outstanding balance on home mortgage accounts in arrears of over 90 days was €6 billion at the end of September, which makes up 6% of the total outstanding balance on all home mortgage accounts.
Accounts in long term mortgage arrears - over one year - accounted for 52% of all accounts in arrears at the end of the third quarter. The number of accounts in long-term arrears declined by
998 accounts over the quarter, the Central Bank added.
A total of 61,278 home mortgage accounts were categorised as restructured at the end of September - 9% of the total home mortgage accounts.
The Central Bank noted that the number of restructure arrangements fell by 2,144 accounts over the quarter, also continuing a long term trend of decline.
Of the total stock of restructured accounts recorded in the third quarter, 83% were not in arrears, while 89% were meeting the terms of their current restructure arrangement.
Split mortgages and arrears capitalisation arrangements accounted for the two main restructured deals.
Meanwhile, today's figures also show that 11% (9,162) of buy-to-let mortgage accounts were in arrears of more than 90 days.
Of the total number of buy-to-let accounts in arrears, 20% were overdue by between two and five years, 26% were in arrears by between five and 10 years and 18% were in arrears for over 10 years.
The Central Bank figures today also show that of mortgage accounts in arrears, 13% are currently part of a legal process, with 37% in the legal system for over five years.
It also said that non-bank entities, including the likes of Pepper, continue to hold an increasing proportion of home mortgages, specifically in relation to accounts in arrears.
At the end of September, non-banks held 16% of all home mortgages outstanding and 74% of all home accounts in arrears for more than one year.
