Bank of Italy: 'In August the mortgage rate is one step away from 4%, the highest since 2024'

The rate on new home loans taken out by families rises in August and reaches 4%, reaching the highest since August 2024. In August the annual percentage rate (APR) on new loans to families for the purchase of homes stood at 3.99%, from 3.81 in the previous month. The Bank of Italy communicates this in the national series Banks and money. In August two years ago the rate had reached 4.09%.

The APR on new consumer credit disbursements stood at 10.78% (10.38 in the previous month). The interest rates on new loans to non-financial companies were equal to 3.7% (3.79 in the previous month), those for amounts up to 1 million euros were equal to 4.40%, while the rates on new loans for amounts exceeding this threshold stood at 3.30%. The interest rates on all outstanding deposits were 0.69%, as in the previous month.