Sharp decline in interest on home loans in January. According to the findings of the Bank of Italy, the rates applied to households including additional expenses (global effective annual rate, Taeg) fell to 4.38%, from 4.82% in December. Instead, the annual interest rate on new consumer credit payments was 10.75%. […]
Sharp decline in interest on home loans in January. According to the findings of the Bank of Italy, the rates applied to households including additional expenses (global effective annual rate, Taeg) decreased. To 4.38% or from 4.82% December. The annual interest rate on new payments Consumer credit Yes instead it is placed Al 10,75% (10.16 the previous month). Also a slight upward revision to business rates. The ratio of mortgage loans to new loans to non-financial companies in January was 5.48%. Compared to 5.45 the previous month. Average interest rates on amounts up to one million euros were 5.78%, while interest rates on new loans for larger amounts were 5.3%. The interest banks pay to depositors is almost at a standstill and now averages 1%, 0.04% more than in December.
In terms of quantities, Loans to the private sector decreased by 2.6% Compared to January 2023. In particular, loans to families decreased by 1.3% while loans to non-financial companies decreased by 4%. Private sector deposits decrease 2% Bond collections rose 20.7% (19.3% in December), indicating how savers, under the influence of inflation, are shifting money from current accounts into more profitable financial products.
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