In Q4 2023, early mortgage arrears in Ireland rose by 3% due to non-bank loans, following 10 ECB rate hikes.

Early mortgage arrears in Ireland rose by 3% in Q4 2023, with 673 mortgage accounts falling into arrears for less than 90 days, primarily attributed to loans from non-bank lenders. Meanwhile, long-term arrears (over a year) declined by 657 accounts. This increase follows 10 ECB rate hikes since July 2022, causing financial stress for borrowers. The total number of home mortgage accounts in arrears reached 47,734 in the final quarter of 2023, driven by short-term arrears.

March 26, 2024
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