Slowdown in mortgage lending as levels of switching drops sharply

📆 3/24/2023 11:55 AM
📰 businessposthq

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Many people recently locked in fixed interest rates in response to a recent surge in borrowing costs

There was a significant slowdown in mortgage approvals in February, according to new figures from the Banking and Payments Federation Ireland .

The group A total of 3,378 mortgages were approved in February 2023 – a drop of 8.6% per cent month-on-month and by 13.3 per cent compared with the same period last year. Mortgages approved in February were valued at €945 million – of which first-time buyers accounted for 55.9 per cent and ...

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Mortgage approvals fall sharply as higher borrowing costs curtail buyersFigures from the Banking & Payments Federation Ireland point to slowdown in approvals across almost all customer segments in volume and value terms
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