- Effective rates on new mortgages to individuals increased in February. Fixed rates, which make up over 90% of new mortgages, increased this month by 7bps from 1.96% to 2.03%.
- Effective rates on new fixed-rate other loans, such as personal loans, to individuals, which make up over 90% of other loans, decreased by 34bps from 7.94% to 7.60%.
- Effective rates on new time deposits decreased by 5bps from 1.02% to 0.97%. The lowest since July 2017.
Table A: Effective interest rates paid/received on individual's balances by UK MFIs (excluding central bank)
Per cent
Not seasonally adjusted
Outstanding | New business | |||||||||
Sight deposits | Time deposits | Other loans | Secured loans | Time deposits | Other loans | Secure loans | ||||
Z6IQ | Z6IW | Z6KO | Z6K6 | Z6IH | Z6K5 | Z6JM | ||||
2017 | Nov | 0.37 | 0.82 | 7.10 | 2.50 | 1.15 | 7.83 | 1.98 | ||
Dec | 0.46 | 0.89 | 7.07 | 2.55 | 1.01 | 7.96 | 2.01 | |||
2018 | Jan | 0.45 | 0.90 | 7.10 | 2.53 | 1.02 | 7.60 | 1.96 | ||
Feb | 0.46 | 0.90 | 7.00 | 2.51 | 0.97 | 7.37 | 2.02 |
Table B: Effective interest rates paid/received on PNFC balances by UK MFIs (excluding central bank)
Per cent
Not seasonally adjusted
Outstanding | New business | ||||||
Sight deposits | Time deposits | Loans | Time deposits | Loans | |||
HSCT | HSCU | HSDC | BJ72 | BJ82 | |||
2017 | Nov | 0.23 | 0.49 | 2.91 | 0.53 | 2.57 | |
Dec | 0.26 | 0.50 | 2.96 | 0.48 | 2.61 | ||
2018 | Jan | 0.29 | 0.57 | 3.05 | 0.46 | 2.68 | |
Feb | 0.28 | 0.56 | 3.06 | 0.46 | 2.77 |