Mortgage growth at lowest level in 16 years

Growth in the residential mortgage market is at its slowest in 16 years, according to the latest figures from the Central Bank.

The bank says the amount of money owed in outstanding mortgages was up 11.4% in the 12 months to April, the lowest rate since May 1992.

Overall growth in private-sector lending also fell to 15.9% in April after rising in March for the first time in eight months.

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