Overall mortgage debt falls for third month in a row

The total amount of money owed on residential mortgages in Ireland has fallen for a third consecutive month, according to the latest statistics from the Central Bank.

The bank says outstanding residential mortgage debt fell by €62m in June.

On an annual basis, residential mortgage debt was up 1.9%, the lowest yearly increase on record.

Elsewhere, the Central Bank says the overall debt owed by private individuals and businesses in Ireland fell a further €1.4bn in June.

However, it says this was mainly due to the write-down of loans and the underlying amount of outstanding credit remained relatively unchanged during the month.

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