In September the interest rates on mortgages, including ancillary costs (Annual percentage rate of charge, APR), stood at 3.82%, down compared to 4.10% in August. This is what emerges from the report Banks and moneyreleased today by Bank of Italy.
It was equal to 4.38% in January, 4.31% in February, 4.21% in March and fell to 4.09% in April, 4.04% in May, 4.02% in June, to 3.94% in July. It then rose to 4.10% in August. September stood at 3.82%, 0.56% less than at the beginning of the year.
APR for mortgage loans and consumer credit
Source: “Banks and money”, Bank of Italy
They are SimplyBiz is also available summary of data from the Bank of Italy on the trend of rates and disbursements in 2023.
Percentage of 1-year mortgages on the total
The analysis reports that in September the share of mortgages with an initial rate determination period of up to 1 year was 7%, the lowest percentage since the beginning of the year. In detail, it went from 22% in January to 17% in February; to 14% in March and April; 10% in May and June; to 9% in July. And it rose to 15% in August. It was at 41% in December 2023.
The other rates
According to the report of Palazzo Kochin September APR on new consumer credit disbursements it stood at 10.47%, in line with the previous month. It was equal to 10.75% in January, 10.59% in February; at 10.61% in March; at 10.59% in April; to 10.66% in May; to 10.29% in June; to 10.51% in July and 10.5% in August.
Interest rates on new loans to non-financial companies they were equal to 4.90%. They were at 5.48% in January; to 5.34% in February; to 5.26% in March; to 5.3% in April; to 5.38% in May; to 5.26% in June; at 5.28% in July; to 5.13% in August.
In particular, in August the APR on loans for amounts up to 1 million euros it was equal to 5.32% (5.78% in January; 5.81% in February; 5.73% in March; 5.7% in April; 5.72 % in May; 5.64% in June; while that on new loans for amounts exceeding this threshold stood at 4.63% (5.30% in January; 5% in February; 4.95% in March; 5.04% in April; 5.14% in May; 5.04% in June; 5.12% in July).
I interest rates on all outstanding deposits they stood at 0.99%% (1% in January; 1.02% in February; 1.04% in March and April; 1.05% in May; 1.03% in June; 1.01% in July; 1% in August).
Loans to private individuals: disbursements -0.9% in August
In September 2024 i loans to the private sectorcorrected on the basis of the harmonized methodology agreed under the European System of Central Banks (Sebc), fell by 0.9% over the twelve months, compared to -1.5% in August.
The decline was 2.6% in January; to 2.5% in February; to 2.4% in March; to 2.2% in April; 2% in May; -1.6% in June and July; -1.5% in August (-2.8% in December 2023).
I loans to families they decreased by 0.4% (-1.3% in January and February; -1.4% in March; -1.2% in April; -1% in May; -0.9% in June; – 0.6% in July and August).
I loans to non-financial companies recorded a decline of 2.4% (-4% in January; -3.8% in February; -3.9% in March; -3.4% in April; -3.1% in May; -3 .4% in June; -3.9% in July; -3.5% in August).
Disbursement trend in 2024
Source: “Banks and money”, Bank of Italy
Private deposits and bond collection
In September i private sector deposits they increased by 0.5% (-2% in January; -1.2% in February, zero change in March; -1.6% in April; -0.1% in May; +2.9% in June ; +1.1% in July; +2% in August).
The bond collection instead it increased by 10.6% (+21% in January; +18% in February; 18.7% in March; +21.6% in April; +18.8% in May; +14.8% in June; 13.3% in July; 12.5% in August and +19.3% in December 2023).
