The Central Bank published the quarterly mortgage arrears figures today, here are the key findings (taken from their press release).
The number of mortgage accounts for principal dwelling houses (PDH) in arrears fell further in the third quarter of 2016; this marks the thirteenth consecutive quarter of decline. A total of 79,562 (11 per cent) of accounts were in arrears at end-Q3, a decline of 3.1 per cent relative to Q2 2016.
The number of accounts in arrears over 90 days at end-September was 56,350 (8 per cent of total), reflecting a quarter-on-quarter decline of 2.1 per cent. This represents the twelfth consecutive decline in the number of PDH accounts in arrears over 90 days.
The majority of maturity categories of arrears, including the over 720 days’ category, declined in Q3 2016. This category recorded a fifth consecutive decline, having declined for the first time in Q3 2015.
The number of PDH mortgage accounts that were classified as restructured at end-September was 121,140. Of these restructured accounts, 88 per cent were deemed to be meeting the terms of their current …