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Ireland's mortgage arrears cases continue to fall
Last Updated: 2017-09-13 16:18 | Xinhua
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The number of Ireland's mortgage accounts for principal dwelling houses in arrears fell further in the second quarter of 2017, according to official figures on Tuesday.

The figures from the Central Bank of Ireland showed a total of 73,706 accounts or 10 percent were in arrears at the end of June, a decline of 3.6 percent relative to March 2017, marking the 16th consecutive quarter of decline.

The number of mortgage accounts for principal dwelling houses in arrears over 90 days at the end of June was 51,750, or 7 percent of total, reflecting a quarter-on-quarter decline of 2.5 percent, the central bank said.

It added this represents the 15th consecutive decline in the number of mortgage accounts for principal dwelling houses in arrears over 90 days.

In July this year, the central bank raised its economy forecast to 4.5 percent this year and 3.6 percent next year, upwards from 3.5 percent and 3.2 percent respectively at last forecast.

In its third quarterly bulletin for 2017, Gabriel Fagan, the central bank's chief economist, said the Irish economy continues to grow at a strong pace and the prospects for sustained and solid economic growth remain positive.

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