OREANDA-NEWS. The Central Bank has published its Household Credit Market Report for H2 2015. This is the second time we have published this report, which collates information from a wide range of internal and external sources to give an up-to-date picture of developments in the household credit market in Ireland.

The report focusses on: developments in mortgage credit; mortgage arrears; and non-mortgage household credit.

Some of the key findings include:

  • The value, and number, of new mortgage loans increased year-on-year to end-Q1 2015, which continues the trend from 2014.
  • The average interest rate on outstanding mortgages in Ireland stood at 2.7 per cent in May 2015.
  • The average value of mortgage arrears continues on a downward trend, as does the default rate for non-mortgage loans.