Mortgage market 10% of peak levels

THE mortgage market is just 10% of what it was at the peak of the housing boom, with brokers reporting very little activity.

Director of the Irish Mortgage Corporation, Frank Conway said mortgage rejection levels will continue to be “pretty high” for the foreseeable future.

This news comes as almost half of brokers surveyed by the Professional Insurance Brokers Association (PIBA) found that lenders turned down between 60% and 80% of mortgage applications in the first three months of this year.