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This graph shows how bad the mortgage arrears crisis is

The amount of money owed to financial institutions has risen 275 per cent in 42 months.

TODAY, THE CENTRAL Bank released new figures that showed that over 95,000 homeowners are in mortgage arrears of over 90 days.

This graph, which was part of that report, shows just how quickly the crisis has developed.

In September 2009, 3.3 per cent of primary home mortgages were in arrears of over three months, accounting for just over €480 million in money owed to banks and building societies.

At the end of March this year, just 42 months later, that figure had jumped by 275 per cent to €1.8 billion, or 12.3 per cent of mortgages.

Read: 95,000 Irish homes are in mortgage arrears over 90 days

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