Banks - Re-mortgaging activity remains elevated

Davy Research
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Mortgage approvals continue to demonstrate the competitive nature of the mortgage market, with re-financing still running at elevated levels. This is likely to persist into year-end and should then ease as rate increases impact. For house purchase, approvals slowed — not unusual towards year-end — and momentum may pick-up early next year as the revisions to the Central Bank of Ireland’s (CBI) loan-to-income (LTI) rules for first-time buyers (FTBs) comes into play.