ENP Newswire -
Release date- 14022014 - The interest rate on new loans to households for house purchase, with either a floating rate or short term rate fixation, increased by 2 basis points to 3.25 per cent in
Rates on outstanding loans for house purchase fell by one basis point from the previous month to stand at 2.80 per cent.
The interest rate on total outstanding household term deposits continued to decline, falling for the twentieth consecutive month, to 2.19 per cent at end-December. Over the past number of months there has been evidence of movement in deposits from medium-term categories towards the overnight category, highlighting the low deposit rates currently on offer.
New business rates for non-financial corporation (NFC) loans of less than
The weighted average interest rate on outstanding NFC term deposits decreased by 4 basis points to 1.5 per cent at end-December.
Loans to Households
The interest rate on new loan agreements to households for house purchase, with either a floating rate or initial rate fixation of up to one year, was 3.25 per cent at
Floating rate loans accounted for 84 per cent of all new mortgage business in the domestic market over the past year. In contrast, the corresponding euro area figure accounted for 27 per cent of new mortgage business over the past year.
The weighted average interest rate on outstanding loans to households for house purchase remained relatively constant over the month, standing at 2.8 per cent at
The weighted average interest rate on new loans to households for non-housing purposes fell by 55 basis points over the month, to stand at 7.05 per cent. It should be noted that new business volumes for this instrument category have been particularly low in recent years, resulting in a volatile interest rate series.
The weighted average interest rate on outstanding amounts of non-housing related loans was 6.53 per cent in
Deposits from Households
Interest rates on new household term deposits stood at 0.84 per cent at
The weighted average interest rate on total outstanding household term deposits continued to fall in December to 2.19 per cent, representing a 134 basis point drop since their last increase in
Non-Financial Corporations (NFCs)
Loans to NFCs
The weighted average interest rate on new loan agreements to NFCs up to
In terms of new business NFC loans above
The weighted average interest rate on outstanding loans to NFCs issued by Irish resident credit institutions increased by 3 basis points to 3.04 per cent at
Deposits from NFCs
The interest rate on new NFC term deposits was 0.48 per cent at
The weighted average interest rate on outstanding NFC term deposits declined by 4 basis points during December to 1.5 per cent. This represents a 89 basis point fall since
Retail Interest Rate Statistics cover all euro-denominated lending to, and deposits from, households and non-financial corporations (NFCs) in the euro area by credit institutions resident in
For retail interest rate statistics purposes, new business is defined as any new agreement between the customer and the credit institution. This agreement covers all financial contracts that specify, for the first time, the interest rate of the deposit or loan, including any renegotiation of existing deposits and loans. Automatic renewals of existing contracts, which occur without any involvement by the customer, are not included in new business. New business volumes have been exceptionally low in various instrument categories during the last number of months. Low volumes of this nature can result in increased volatility within the interest rate series.
 Recent data are often provisional and may be subject to revision. The extensive set of Retail Interest Rate Statistics tables and Retail Interest Rate Statistics Explanatory Notes are available on the
 The weighted average interest rate on new loans to NFCs, up to
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