Download full report with analyst certification and important disclosures
Nov 24 2022, 08:15 GMT
Banks
Re-mortgaging activity remains elevated
- Sectors : Banks
- Companies : permanent tsb Group | AIB Group | Bank of Ireland
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| AIB Group | OUTPERFORM | 23/01/19 | Neutral | 14/08/18 | 299c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 752c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 172c |
DAVY VIEW
Mortgage approvals continue to demonstrate the competitive nature of the mortgage market, with re-financing still running at elevated levels. This is likely to persist into year-end and should then ease as rate increases impact. For house purchase, approvals slowed — not unusual towards year-end — and momentum may pick-up early next year as the revisions to the Central Bank of Ireland’s (CBI) loan-to-income (LTI) rules for first-time buyers (FTBs) comes into play.
