Good news for families and businesses. After the ABI, the Bank of Italy also certifies the decline in mortgage rates of homes. Although the timing of the first interest rate cut by the European Central Bank has lengthened, the markets are already anticipating the new scenario and the effects are starting to be seen. After 24 months of consecutive increases and after having reached the highest level of the last 15 years in November, according to what we read in the statistical publication "Banks and money: national series" by Bankitalia, last December Mortgage rates for families fell to 4,82% against 4,92 in the previous month. Not only that, but also the interest rates on new loans to businesses they decreased, falling from 5,59% in November to 5,46% in December. Small steps forward that bode well for the future.
All rates falling
According to the percentages provided by the Bank of Italy, all components of interest rates fell in December.
The APR (indicator which also contains additional costs) on new ones consumer credit disbursements it fell to 10,16% from the previous 10,27%. Interest rates on new loans to non-financial corporations stood at 5,46% (5,59% in the previous month), those for amounts up to 1 million euros were equal to 5,72%, while the rates on new loans for amounts exceeding this threshold stood at 5,28%. Finally, the lending rates on all outstanding deposits were equal to 0,96 percent (0,95 in the previous month). This item remained much lower despite the marked increases decided by the ECB on all reference levels.
Fewer loans to families and businesses
After the positive news, however, there are also some negative notes. In December, in fact, bank loans to the private sector they fell by 2,8% on the year (-3,2% in the previous month). Loans to families, on the other hand, fell by 1,3 percent over the twelve months (the decline was 1,2 in the previous month), while those to non-financial companies fell by 3,7 percent (-4,8, XNUMX in the previous month).
Finally, private sector deposits recorded a decline of 3,1%, compared to bond collections increasing by 19,3% compared to December 2022.
