In February, the average rate on new mortgage agreements was 2.79%.

This compares to the euro area average of 1.27%.

This rate was unchanged compared to the previous month but was 0.12% lower than the average a year ago.

The average on fixed rate mortgages was 2.65%.

Fixed rate mortgages account for 82% of all mortgages now issued.

The average variable rate was 3.4%.

The volume of mortgages issued in February was 7% higher than February 2020.

It also increased 23% on the volume issued in January.

New consumer lending is still down sharply compared to a year ago.

The volume of new consumer lending was down 34% compared to February 2020.

The average rate was 6.96% compared to the euro area average of 5.23%.

Total lending to non-financial companies was down 11% compared to last year.

However, loans for values up to €250,000 were up 12%.

The average rate on these loans was 4.57% compared to the euro area average of 1.98%.

The use of overdraft finance by companies was also down by 18% compared to last year.