Brendan Burgess
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Despite the rises in inflation and interest rates, mortgage arrears have not increased much.
Governor Makhlouf: Irish mortgage holders are very resilient
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Despite the rises in inflation and interest rates, mortgage arrears have not increased much.
DublinHead54
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That data doesn't seem to support the statement.......
Mortgage holders may be resilient but doesn't mean they aren't struggling. My assumption is that provided mortgage holders remain employed they will continue to pay their mortgage and make sacrifices in other spending to higher mortgage amounts due to rate increases. It would only be on widespread unemployment that arrears would shoot up.
Mortgage holders may be resilient but doesn't mean they aren't struggling. My assumption is that provided mortgage holders remain employed they will continue to pay their mortgage and make sacrifices in other spending to higher mortgage amounts due to rate increases. It would only be on widespread unemployment that arrears would shoot up.
Brendan Burgess
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Agree fully.
Loss of income is the big driver of arrears.
High interest rates contribute to it.
And then financial irresponsibility is another contributor.
Brendan
Isn’t that what resilience is, managing to deal with adversity?