June 20, 2018 / 10:32 AM / in 3 months

Irish mortgage arrears inch lower to 6.7 percent in first-quarter

DUBLIN (Reuters) - The number of Irish homeowners in arrears for more than 90 days fell to 6.7 percent in the first quarter of 2018 from an upwardly revised 6.8 percent three months earlier, central bank data showed on Wednesday.

Accounts in arrears over 720 days also declined a touch, to just under 30,000, but still represented 60 percent of homeowners who have missed three or more payments and at 2.6 billion euros, 90 percent of all arrears balances outstanding.

There was an increase in the number of accounts in arrears up to 90 days, but the central bank said this was due to the country’s worst weather for decades impacting customers’ ability to make payments at their branch.

Reporting by Padraic Halpin; Editing by Catherine Evans

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