Euro zone mortgage rates fall in Oct - ECB

inspector_monkfish

09:26 02Dec09 TABLE-Euro zone mortgage rates fall in Oct -ECB

Dec 2 - Euro zone household mortgage and corporate
interest rates continued mostly on a downward path in October,
the European Central Bank said on Wednesday.

The average interest rate on a new floating rate mortgage --
which account for two-fifths of new mortgage borrowing -- fell
to 2.78 percent. Rates on mortgages fixed for over 10 years, the
second most common type of home loan, also dipped.

Business overdrafts, the main source of new corporate
borrowing, fell to 4.19 percent from 4.25 percent in the
previous month, but the interest charged on the second most
common form of business financing, floating rate loans over one
million euros, rose.

Following is a summary of the ECB data on interest rates
offered on new deposits, overdrafts, loans and mortgages across
the 16 countries which use the euro as their national currency.

OCT 09 SEPT 09 OCT 08
(annual percent rate)
HOUSEHOLDS
Overnight deposits 0.46 0.49 1.34
Bank overdrafts 9.16 9.25 10.83
Mortgages, <1 year fix 2.78 2.81 5.84
Mortgages, 1-5 year fix 4.01 4.05 5.42
Mortgages, 5-10 year fix 4.45 4.48 5.28
Mortgages, >10 year fix 4.40 4.45 5.37

NON-FINANCIAL CORPORATIONS
Overnight deposits 0.49 0.52 2.20
Bank overdrafts 4.19 4.25 6.89
Loans, <1 mln euros, <1 year fix 3.33 3.36 6.52
Loans, >1 mln euros, <1 year fix 2.14 2.06 5.59

For the full report, see:
http://www.ecb.int/stats/money/interest/interest/html/index.en.html