Interest rates in banks and mortgage companies, September 2016

In September 2016, the floating rate on households’ new mortgages from a sample of banks and mortgage companies was almost stable at 2.36 per cent. The fixed-interest rate on new mortgage loans was also stable at 2.32 per cent in the same period. The interest rate on new credit lines secured on dwellings increased by 0.02 percentage points to 2.28 per cent. The fixed-interest rate on outstanding mortgages fell by 0.03 percentage points to 3.07 per cent, while the floating interest rate on households’ outstanding mortgages was almost stable at 2.45 per cent.

Lower interest rate margin on mortgages to households

In September 2016, the interest rate margin on new mortgages to households from a sample of banks and mortgage companies fell by 0.07 percentage points to 1.19, while the corresponding interest rate margin on outstanding loans fell by 0.09 percentage points to 1.33 per cent. This is the lowest level for interest rate margins on mortgage loans since the first publication of monthly data in December 2013.

The banks’ deposit margins increased by 0.07 percentage points to 0.44 per cent. NIBOR increased by 0.08 percentage points to 1.17 per cent.

Interest rates on loans to non-financial corporations

For new other repayment loans to non-financial corporations, the interest rates increased by 0.24 percentage points to 3.03, while the interest rate on outstanding loans was stable at 3.15 per cent.

Deposit rates

The interest rate on total deposits from households was stable at 0.73 per cent, while the interest rate on deposits from non-financial corporations increased by 0.02 per cent to 0.72 per cent in September 2016.

Lower interest rate for state lending institutions (complete census)

The interest rate from state lending institutions fell by 0.22 percentage points to 1.63 per cent from June 2016 to September 2016, while the interest rate on loans from State Pension Fund fell by 0.10 percentage points to 2.20 per cent.

Decreased share of fixed-interest loans (complete census)

The share of fixed-interest rate loans secured on dwellings to households from banks and mortgage companies fell from June 2016 to September 2016, from 8.3 per cent to 7.8 per cent. The share of fixed-interest rates has decreased over the last four quarters. The interest rate on repayment mortgages secured on dwellings from banks is at the lowest since the statistics began in 1996.