Irish banks

Mortgage approvals continue to increase

Recent trends in approvals continued in July, with ongoing increases across main categories. On a 12-month rolling basis, approvals stand at €17.9bn. Re-mortgaging approvals continue to increase, driven by the dual trends of higher roll-off of fixed rates and as official interest rates begin to increase. Bank lenders have yet to change pricing; if rate markets are correctly predicting European Central Bank (ECB) trajectory, this will need to start towards the end of the year.

• Diarmaid Sheridan
• Morning briefing
• Read Important Disclosures