Irish continuing to borrow huge amounts in mortgages

Irish people are continuing to borrow huge amounts of money for mortgages, according to figures published today by the Central Bank.

The bank said €1.8bn worth of residential mortgages were taken out in July of this year, the second highest monthly figure on record.

The highest figure of €2.1bn was recorded in June.

The Central Bank said an average of €1.5bn had been borrowed for residential mortgages every month so far this year.