Irish banks

April mortgage approvals: modest growth

Mortgage approvals in April point to modest growth, with first-time buyers (FTBs) remaining the core market driver. Mover purchase demand was slightly softer, but this was offset by strong remortgaging and refinancing volumes – leaving overall activity solid. Strong approvals over the first four months of the year signal a healthy drawdown pipeline ahead. We remain confident in our mortgage drawdown forecast.

• Thomas Ryan CFA
• Morning briefing
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