Mortgage approvals slumped in January with the number of home loans sanctioned falling by close to a quarter on same time in 2025.. Illustration: Paul ScottThe number of mortgages approved for people moving homes hit a record low in January outside the initial three-month Covid lockdown period. Approvals for first-time buyers, who account for the largest share of the mortgage market, also slumped, hitting their lowest level in more than two years. The mortgage market tends to be seasonal, with the winter months being a relatively quieter period. Across the board, mortgages approved in January were down more than 10 per cent on the same period in 2025.

Source: The Irish Times February 24, 2026 09:00 UTC