Almost 5,000 mortgages valued at more than €1.1bn were approved in May.
There has been an increase in the number of new mortgages being drawn down.
Latest figures from the Banking and Payments Federation Ireland, show that 3,364 mortgages were approved last month - an 11% increase compared to the previous month.
TDs and Senators have cast doubt on the effectiveness of the new board set up to improve the behaviour of banks in the wake of the €1bn tracker mortgage scandal.
The number of new mortgages issued in the second quarter of the year increased by over 50% on the previous quarter.
The Irish Banking Federation says banks are committed to keeping roofs over people's heads.
The Irish Bankers Federation is calling for the abolition of the €40 government stamp duty on credit cards.
The Irish Banking Federation is rejecting claims that small businesses are being ripped off.
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