Abi, the mortgage rate fell by more than one point since December – News – Ansa.it

Since October 2023, market rates have decreased and in recent weeks “this reduced trend has continued after reductions in ECB rates and also in anticipation of further decisions by the European Central Bank”, so the average rate of new activity for house purchases decreased to 3.28%, compared to 3.31% in September 2024 and down compared to 4.42% in December 2023. This is indicated by Abi’s monthly report.

Another important element, highlighted by the deputy general director of the Abi Giancarlo Torriero, is the reduction of one percentage point also in the average rate on new business financing activities, from 5.45% in December 2023 to 4.60% in October . Between September and October, in particular, a decrease of 0.30 percent was recorded.

Rates on bank funding are also decreasing: the rate applied to new fixed-term deposits (ie certificates of deposit and term deposits) in October 2024 was 3.14% and in September it was 3.35%, more higher than the euro area average (3.17). %). The yield on new issues of fixed rate bank bonds in October 2024 was 3.83%.

The yield of current accounts is very small, the rate is 0.48% (0.52% in the previous month; 0.02% in June 2022) but the Abi reminds that “it does not have an investment function but an enabling platform ‘, liquidity reserve for managing payments”.

The ABI also analyzes market rates. In the first 14 days of November the 3-month Euribor rate averaged 3.04% (the average rate in October was 3.17%), a decrease of 13 basis points compared to October 2024. The decrease was at 96 basis points compared to the peak value recorded in October 2023. The six-month BOT rate averaged 2.95% (2.99% in October); the 10-year IRS rate (widely used in mortgages) averaged 2.39% (2.43% in October); the 10-year BTP rate averaged 3.66% (3.51% in October).

In October, loans to businesses and households fell “by 2.0% compared to a year ago”, according to what appears from Abi’s monthly report which recalls how loans to businesses in September 2024 had gone down 2.4% and those for families 0.4 percent. . The decline in credit numbers “is the result of the decline in economic growth which contributes to the lowering of the demand for loans” confirms the report.