Mortgages, Bank of Italy confirms the drop in rates: in December at 4.82%

Mortgages, Bank of Italy confirms the drop in rates: in December at 4.82%

MILAN – The Bank of Italy also certifies the reversal of the trend in the cost of mortgages, with the markets readjusting to the scenario of rate cuts by central banks.

After the November peak, with the highest level since 2008, the cost of financing to buy a house therefore reverses course: via Nazionale calculates that last December mortgage rates for families fell to 4.82% compared to 4.92 the previous month.

Already the Abi, in mid-January, had reported the first “minus” in the trend of mortgage rates, which came from 24 months of consecutive increases.

The Bankitalia publication also takes stock of other types of financing. The Taeg (indicator which also contains additional costs) on new consumer credit disbursements it stood at 10.16% (it was 10.27 in the previous month). The interest rates on new loans to non-financial companies were equal to 5.46% (they were 5.59 in the previous month), those for amounts up to 1 million euros were equal to 5.72%, while the interest rates on new loans for amounts exceeding this threshold they stood at 5.28%.

The interest rates on all outstanding deposits were 0.96% (0.95 in the previous month).

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For an indication that therefore gives oxygen to family budgets, there remain other findings in the Via Nazionale report which certify the phase of uncertainty of our economy. In December, banks’ loans to the private sector, in fact, decreased by 2.8 percent over the twelve months (-3.2 in the previous month). Loans to families decreased by 1.3 percent over the twelve months (they had fallen by 1.2 in the previous month), while those to non-financial companies fell by 3.7 percent (-4.8 in previous month).

A slowdown in lending which is linked both to the tightening of conditions, but also to demand which is slowing down in light of the many uncertainties that characterize the current scenario.

Private sector deposits fell by 3.1 percent over the twelve months (-4.1 in November); bond funding increased by 19.3 percent (19.7 in November).

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