More people are looking to switch their mortgage provider to avail of a lower interest rate.
New figures from the Banking and Payments Federation show 1,910 mortgage holders got approval in October to move their home loan, an increase of 124.4% in the past year.
19% of new mortgage approvals last month were for people looking to switch as the European Central Bank increased interest rates for the third time this year.
Figures from the Banking and Payments Federation show almost €1.5 billion in new mortgages were approved in October.
The Banking and Payments Federation of Ireland says mortgages approved in October were valued at €1,462 million.
2,363 mortgage approvals for first-time buyers accounted for €633 million of new approvals last month. Approvals for first-time buyers were at their lowest level for October, since 2019.
Mover-purchasers accounted for €320 million worth of approvals.
