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| Mortgage lending slowed in February |
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The rate of mortgage lending slowed in February, according to new figures from the Central Bank published today.
The amount of money lent for new mortgages last month rose by 58m Euro after a much stronger rise of 350m Euro in January.
The Central Bank said the annual rate of increase in residential mortgages fell to 4.9% in February from 5.4% in January.
The fall came despite lower interest rates and a 2.1% fall in house prices in the first two months of 2009.
However, the Central Bank noted the same trend in the rest of the eurozone countries.
Overall, private sector lending fell by 95m Euro last month, compared with a 3.3bn Euro rise in January.
The annual rate of growth fell from 6% to 4.8%.
The Central Bank says that outstanding debts on credit cards has generally been declining since last October - with the exception of the month of December - as consumer spending slows.
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