The total amount of credit outstanding with Irish households rose to €99.2 billion by the end of the first quarter of 2025 – an increase of 4 per cent annually – amid interest rate cuts by the European Central Bank (ECB).
Meanwhile, total household deposits grew by nearly €3 billion in the year to March 2025, to a value of €145.8 billion.
The adjusted quarterly increase in lending transactions between during the quarter was €594 million, while the quarterly increase in total deposits was €2,813 billion.
According to the Central Bank of Ireland figures, total lending for house purchases grew by 3.5 per cent in the year to March 2025, reaching €85.7 million.
Overall, floating rate mortgages increased in popularity in the past year as the ECB cut interest rates. The value of these home purchase loans increased to €31.15 billion.
The value of tracker mortgages continued its trend by reducing significantly in the first three months of the year, dropping 14.6 per cent in the year to March 2025 to €13.15 billion. In contrast, standard variable mortgages increased more than 25 per cent in the same period, to a value of €17.3 billion.
[ Irish mortgage approvals hit record €14.1bn over last yearOpens in new window ]
More predictable fixed rate mortgages remain more popular, however, even recording a slight growth in value. These home purchase loans increased in value by 1.2 per cent in the 12 months ending in March.
The value of home loans on fixed rates of more than five years decreased by 8.6 per cent in the period, while the value of loans on fixed rates of between three and five years grew by 5.4 per cent.
There was growth too in non-home buying, personal loans, with the value of these outstanding loans increasing by 7.7 per cent annually to €13.45 billion, fuelled mostly by growth in non-investment personal loans. This is made up of consumer credit loans such as overdrafts and credit card borrowings.
