Lower fixed-interest rates

Published:

5 September 2017

The fixed-interest rate on new mortgages fell by 0.03 percentage points in July to 2.47 per cent, while the floating rate was stable at 2.52 per cent. The loans margins have increased since December last year.

Full set of figures
Interest rates in banks and mortgage companies

Series archive
Interest rates in banks and mortgage companies (archive)

In July, the interest rate on new mortgages to households from a sample of banks and mortgage companies has remained stable at 2.51 per cent in the last three months. The interest rate on outstanding mortgages remained stable at 2.55 per cent.

The fixed interest rate on outstanding mortgages continued to fall and went down by 0.02 percentage points to 2.86 per cent. The floating rate was stable at 2.51 per cent.

Figure 1. Interest rates on new and outstanding loans secured on dwellings to households. Monthly sample of banks and mortage companies

	New loans, floating interest rate	New loans, fixed interest rate	Loans outstanding, floating interest rate	Loans outstanding, fixed interest rate
Des. 2013	3.97	4.18	4.04	4.17
Jan. 2014	3.96	4.20	4.03	4.16
Feb. 2014	3.97	4.12	4.02	4.16
Mar. 2014	3.95	4.18	4.01	4.15
Apr. 2014	3.87	4.08	4.00	4.15
May 2014	3.80	4.08	3.97	4.14
Jun. 2014	3.78	3.84	3.85	4.13
Jul. 2014	3.76	3.81	3.84	4.14
Aug. 2014	3.76	3.74	3.83	4.14
Sep. 2014	3.73	3.48	3.81	4.12
Oct. 2014	3.59	3.38	3.78	4.11
Nov. 2014	3.54	3.35	3.73	4.09
Dec. 2014	3.49	3.29	3.61	4.08
Jan. 2015	3.22	2.78	3.55	4.01
Feb. 2015	3.11	2.53	3.52	3.80
Mar. 2015	3.08	2.53	3.25	3.65
Apr. 2015	3.09	2.55	3.23	3.54
May 2015	3.07	2.6	3.22	3.46
June 2015	3.00	2.71	3.19	3.4
July 2015	2.87	2.73	3.15	3.38
Aug. 2015	2.83	2.7	2.93	3.36
Sep. 2015	2.78	2.71	2.91	3.4
Oct. 2015	2.60	2.61	2.88	3.33
Nov. 2015	2.57	2.51	2.77	3.29
Dec. 2015	2.54	2.51	2.65	3.28
Jan. 2016	2.55	2.48	2.64	3.26
Feb. 2016	2.50	2.39	2.63	3.24
Mar. 2016	2.48	2.23	2.61	3.22
Apr. 2016	2.40	2.22	2.59	3.20
May 2016	2.37	2.27	2.51	3.18
Jue 2016	2.38	2.26	2.47	3.16
July 2016	2.38	2.26	2.46	3.12
Aug. 2016	2.35	2.32	2.46	3.10
Sep. 2016	2.36	2.32	2.45	3.07
Oct. 2016	2.38	2.46	2.44	3.03
Nov. 2016	2.43	2.56	2.45	2.99
Dec. 2016	2.44	2.70	2.45	2.96
Jan. 2017	2.47	2.77	2.53	2.95
Feb 2017	2.49	2.76	2.53	2.94
Mar. 2017	2.52	2.70	2.53	2.93
Apr.2017	2.52	2.64	2.53	2.92
May 2017	2.51	2.48	2.52	2.9
June 2017	2.51	2.50	2.52	2.88
July 2017	2.52	2.47	2.51	2.86

Increase in the interest rate margin

The interest rate margin on mortgages to households has increased since December last year by 0.41 percentage points. NIBOR fell by 0.36 percentage points in this period. The interest rate margin on new and outstanding mortgages to households was almost stable at 1.68 and 1.71 per cent in July.

Figure 2. Interest margins on new and outstanding loans with a mortgage to households. Sample of banks and mortgage companies

	Loans margin, total outstanding loans secured on dwellings	Loans margin, new total loans secured on dwellings	NIBOR
Des. 2013	2.26	2.33	1.72
Jan. 2014	2.28	2.35	1.69
Feb. 2014	2.24	2.30	1.73
Mar. 2014	2.19	2.25	1.77
Apr. 2014	2.04	2.18	1.83
May 2014	1.92	2.11	1.88
Jun. 2014	1.99	2.08	1.79
Jul. 2014	2.06	2.16	1.70
Aug. 2014	1.97	2.06	1.79
Sep. 2014	2.04	2.16	1.68
Oct. 2014	1.97	2.20	1.61
Nov. 2014	1.87	2.10	1.66
Dec. 2014	1.97	2.13	1.51
Jan. 2015	1.83	2.24	1.35
Feb. 2015	1.64	2.17	1.37
Mar. 2015	1.49	1.79	1.50
Apr. 2015	1.48	1.73	1.53
May 2015	1.52	1.76	1.48
June 2015	1.61	1.85	1.36
July 2015	1.57	1.88	1.29
Aug. 2015	1.67	1.83	1.15
Sep. 2015	1.64	1.82	1.14
Oct. 2015	1.49	1.81	1.11
Nov. 2015	1.37	1.62	1.20
Dec. 2015	1.38	1.56	1.15
Jan. 2016	1.36	1.51	1.19
Feb. 2016	1.43	1.61	1.07
Mar. 2016	1.45	1.65	1.02
Apr. 2016	1.38	1.63	1.01
May 2016	1.38	1.58	0.99
Jue 2016	1.34	1.50	1.03
July 2016	1.31	1.45	1.07
Aug. 2016	1.26	1.42	1.09
Sep. 2016	1.19	1.33	1.17
Oct. 2016	1.27	1.37	1.12
Nov. 2016	1.28	1.34	1.16
Dec. 2016	1.27	1.30	1.19
Jan. 2017	1.45	1.52	1.04
Feb 2017	1.44	1.5	1.06
Mar. 2017	1.54	1.57	0.99
Apr. 2017	1.54	1.57	0.99
May 2017	1.59	1.63	0.92
June 2017	1.67	1.71	0.84
July 2017	1.68	1.71	0.83

Low interest rate on loans to non-financial corporations

For new other repayment loans to non-financial corporations, the interest rate fell by 0.06 percentage points to 2.78 per cent in July, while the interest rate on outstanding loans fell by 0.05 percentage points to 2.93 per cent.