Household arrears decrease as interest rates fall

Household arrears have decreased in April, indicating financial relief due to lower interest rates and economic stabilization. Fewer borrowers are falling behind on payments, with residential mortgage arrears dropping to 1.29%. Financial hardship cases also declined year-on-year, though personal loan hardship is rising. Despite easing household debt pressures, company liquidations are increasing, particularly in construction and hospitality, highlighting ongoing business financial strain.