The year 2020 continued a downward trend
If in November and December 2019 was found an increase of 0.1% on personal loans over the same period last year, in January 2020 there was instead a growth of 0.6%. More specifically, loans to households grew by 2.5%, the same figure recorded in December. Declining instead disbursements for non-financial companies, or -1%, compared with -1.9% recorded in December and a -2% in November 2019.
After the small growth in the late of 2019, interest rates have resumed their descent, returning to values seen in November. According to surveys by the Bank of Italy, the interest rates for the purchase of houses are currently on a 1.76%, against 1.78% in December.
Turning to non-financial corporations, interest rates in January 2020 were on average 1.18%. It is therefore a further decline, given the 1.37% seen in December 2019. The Bank of Italy report concludes with the average rate on loans above or below 1 million euro. In the first case we have an average of 0.77%, while in the second 1.87%
The data reported by the new relationship may not hold emergency account coronavirus, which will have brought about substantial changes to 'entire scenario. We expect that the month of February is in line with expectations, since the epidemic began its spread in our continent only at the end of the month.
The current interest rates still continue to be particularly low for both personal loans for a large number of solutions to the prerogative of workers and pensioners. If you are interested in a loan or require further information, you can request a free quote on CIF Online.