There was a sharp fall in the number of mortgage drawdowns in the three months to September 30.
The volume fell by 30pc year-on-year as economic activity continued to be disrupted by Covid-19.
In total, 8,220 new mort- gages to the value of €1.9bn were drawn down by home buyers during the third quarter of this year, according to fig- ures from the Banking and Payments Federation Ireland (BPFI).
Drawdowns declined by just over a quarter in value terms when compared with the same period last year.
However, since the three months covering April, May, and June, mortgage drawdowns have increased 24.1pc in volume and 33.8pc in value.
The Government announced the first lockdown of all non- essential shops on March 24, with restrictions starting to ease on May 5. Last week, the Government again announced increased restrictions, which has seen the country return to Level 5 for six weeks.
Commenting on the mortgage drawdown figures, BPFI chief executive Brian Hayes said they showed "another difficult quarter".
"It should be noted, however, that the year-on-year decline is less than the decline we saw in the second quarter of this year," he added.
Looking to the final three months of this year, Mr Hayes said it remains to be seen what impact the latest Covid-19 public health measures is likely to have on prospective homebuyers and the mortgage market.
Meanwhile, a total of 4,621 mortgages were approved last month.
First-time-buyers dominated the mortgage approvals, accounting for just over half.
They were followed by mover buyers, who accounted for 1,191, or 26pc.
The number of mortgages approvals last month rose by 19.3pc month-on-month and 20.8pc year-on-year.
Mortgages approved last month were valued at €1.1bn, of which first-time-buyers acc- ounted for €647m (57.8pc), while mover buyers represented 29pc of the mortgage values.
encouraging The value of mortgage approvals rose by 18.5pc month-on-month and by 34.6pc year-on-year.
"This latest set of figures shows a significant increase in mortgage approvals in September, with mortgage activity up over 20pc on this time last year in volume terms and over 34pc in value terms," Mr Hayes said.
"The increase reflects the relaxation of the Covid-19 restrictions during the summer months, but also demonstrates an encouraging level of resilience in the market."