The average interest rate on new housing credit operations, which include renegotiations, decreased in September for the eighth consecutive month, to 2.84%, the lowest value since October 2022, the BdP announced this Friday, 31st.
This decline compared to the rate of 2.88% in August represents the 22nd decrease in 23 consecutive months (the exception was January 2025, in which it rose 0.03 percentage points), whereas, in the first nine months of this year, this rate dropped 0.36 percentage points.
In consumer loans, the average interest rate on new operations reached 8.76% in September, a reduction of 0.02 percentage points compared to August, while in loans for other purposes the average interest rate fell 0.04 percentage points to 3.51%.
According to the BdP, in September, new loan operations to individuals (including new contracts and renegotiated contracts) totaled 3,409 million euros, 364 million more than in August.
New loan contracts to individuals reached 2,926 million euros, an increase of 386 million compared to August, with this increase being “across all purposes, but more pronounced in housing loans”.
New contracts totaled 2,076 million euros for housing purposes (+312 million than in August), 588 million euros for consumption purposes (+36 million) and 262 million euros for other purposes (+38 million).
Credit renegotiations reached 483 million euros, which corresponds to a reduction of 21 million euros compared to August.
With regard to companies, the average interest rate on new loan operations rose 0.05 percentage points, from 3.54% in August to 3.59% in September.
This increase resulted from the increase in the average interest rate on loans above one million euros (+0.18 percentage points, to 3.38%), offset by the decrease in the average interest rate on loans up to one million euros (-0.03 percentage points, to 3.76%).
In September, the amount of new loan operations granted to companies was 2,210 million euros, an increase of 174 million compared to the previous month.
The central bank details that this evolution resulted from the growth in the amount of new contracts (+183 million euros), “very partially offset” by the decrease of nine million euros in renegotiated contracts.
New loan operations up to one million euros reached 1,218 million euros in September, 36 million more than in August, while new loan operations above one million euros increased by 138 million, to 992 million euros.