How are Irish households coping with their mortgage repayments? Information from the SILC Survey

Yvonne McCarthy and Kieran McQuinn

No 2/RT/10, Research Technical Papers from Central Bank of Ireland

Abstract: This paper uses information contained within the Survey on Income and Living Conditions (SILC) to examine the ability of Irish households to sustain their mortgage repayments. We calculate mortgage repayment to income (MRTI) ratios for a representative sample of Irish households and examine the distribution of this ratio. In particular, we stratify information on marital, work and educational status along with household composition according to this MRTI. We also examine the distribution of information on household mortgages such as the source, the interest rate paid, the age and tenure, and the monthly repayment of the mortgage according to the same ratio. Finally, the distributional implications for the MRTI of a significant unemployment and interest rate shock are also examined.

Pages: 30 pages
Date: 2010-02
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