Mortgage arrears fall to lowest level on record as families brace for higher interest rates

The number of Irish family home mortgages in long-term arrears has fallen to 15,543 — a decline of almost 14% in a year

The Central Bank data shows that accounts in long-term arrears, defined as over one year, had an outstanding balance of €3.7bn. Picture: iStock 

The number of family home mortgages in long-term arrears has fallen to 15,543, a decline of almost 14% in a year and remains at the lowest level on record.

According to new figures from the Central Bank, accounts in long-term arrears, defined as over one year, had an outstanding balance of €3.7bn.