800 mortgages issued a day here - Irish Bankers Federation

We have the figures and the will to use them!!! :open_mouth:

13% residential investment properties!!! Is that all the speculation that is going on??? :question:

UG

also posted it to another section with a bit of analysis on the figures.

Investors are 25%+ of the market!

thepropertypin.com/forum/viewtopic.php?t=111

Blue Horseshoe

This mortgage lending might begin to drop off, just a little!

Rate hikes cut first-time buyers’ borrowing power

Ongoing interest-rate increases are seriously eroding the sizes of mortgages being offered to first-time buyers.

New borrowers will only be offered 75 per cent of the mortgages that they qualified for last December, if rates continue to rise at current levels.

The rate increases are putting huge pressure on prospective buyers, said Michael Dowling, president of the Independent Mortgage Advisers Federation (IMAF).

A single first-time buyer earning €60,000 a year will qualify for a maximum mortgage of €262,500 next year if the European Central Bank (ECB) rate increases to 4 per cent as expected, said Dowling.

The same person could have borrowed up to €350,000, if they had applied for the mortgage last December. The ECB is expected to increase the rate to 3.25 per cent at its meeting this Thursday. This would be the fifth rate increase in 11 months.

First-time buyers are already feeling the pinch. They are qualifying for mortgages that are 15 per cent lower than the amount they were eligible for last December, according to Dowling.

Couples will pay as much as 40 per cent of their disposable income on mortgage repayments on a house in Dublin, given that the average price of a house in the capital stands at €413,000, according to the EBS building society and economic consultants, DKM, which was published last week. The last time homeowners spent such a large portion of disposable income on their mortgages was back in 1982, when interest rates reached 15.7 per cent.

The continuing rate increases means that borrowers could next year have to pay as much as €500 a month more on mortgage repayments than they were paying last December, according to the Irish Mortgage Corporation.

sbpost.ie/post/pages/p/story … qqqx=1.asp

Couples will pay as much as 40 per cent of their disposable income on mortgage repayments on a house in Dublin, given that the average price of a house in the capital stands at €413,000, according to the EBS building society and economic consultants, DKM, which was published last week. The last time homeowners spent such a large portion of disposable income on their mortgages was back in 1982, when interest rates reached 15.7 per cent.

Now that is very, very interesting…

So much for the “progess” arguement, the “we’ve never had it better” bull being pedaled as economic fact.

Stick that in your bank account Bertie! :smiling_imp: