BoE: New mortgage rates down 4bps in October
Effective interest rates data for October released today by the Bank of England show that the effective rate on the stock of outstanding secured loans (mortgages) decreased by 1bp to 3.19%.
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The new secured loan rate fell to 3.18%, a decrease of 4bps on the month.
The effective rate paid on households’ outstanding time deposits increased by 11bps to 1.92% in October and the rate for households’ new time deposits increased by 4bps to 1.53%.
The rate on outstanding unsecured personal loans decreased by 15bps to 7.23% in October and the new unsecured personal loan rate decreased by 34bps to 7.38%.
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