Bankitalia: Banks' loans accelerate in November, +2.1%. Rates on new mortgages stable
Loans to households increased by 2.3% (same as in the previous month) while loans to non-financial corporations increased by 1.8% (1.1 in October)
Bank loans accelerated in November. According to Bank of Italy statistics, they rose by 2.2% compared to +1.8% in the previous month. Loans to households increased by 2.3% (as in the previous month) while those to non-financial companies rose by 1.8% (1.1 in October). Private sector deposits rose by 2.6 per cent (same as in the previous month); bond deposits increased by 2.8 per cent (4.9 in October).
New Mortgage Rates Stable at 3.7 %
In November, rates on new mortgages applied by banks and those recognised for customer deposits remained stable. As the Bank of Italy points out, the Taeg (Annual Percentage Rate) on new loans to households for home purchases stood at 3.72% (3.73 in October). The Taeg on new consumer credit disbursements stood at 10.12% (10.07 in the previous month). The interest rates on new loans to non-financial companies stood at 3.52% (3.53 in the previous month). Deposit rates on all outstanding deposits amounted to 0.63% (same as in October).
