Average new mortgage rate down in Italy

Business 17 December 2024 13:41

Mortgage rates stayed on a downward trend in Italy in November, Italian banking association ABI said, CE Report quotes ANSA.

It said the average rate on a loan for a home purchase fell to 3.23% last month, compared to 3.27% in October 2024 and 4.42% in December 2023.

The ECB cut its rate by a further 25 basis points this week.

ABI said the slowdown in Italian GDP growth continued to "depress demand for bank loans" last month, as they were down 1.6% compared to November 2023.

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Average new mortgage rate down in Italy

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