Value of new mortgages down 16% this year

THE VALUE of new mortgages advanced in the three months to June dropped 13 per cent, bringing the decline for the first half of this year to 16 per cent, new figures reveal.

Tighter lending rules and declining demand amid falling property prices and higher bank funding costs have brought activity in the mortgage market in value terms below levels last recorded in 2005, according to statistics pooled by the State’s mortgage lenders.

Read the rest of the article here


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: