The latest Cream bank statistics on loans to individuals indicate an acceleration of loan production at the end of January 2017. On the mortgage side, full box. Production posted a good pace despite the period of rising property rates. The observed growth is 4.8%.
On the consumer credit side, the pace is more marked with + 6% in January 2017 compared to the same month of the previous year.
Consumer credit: progression of amortizable loans in January
The trend observed by the Good lender is upward for production but also for consumer credit rates. Since August 2016, they have been yo-yo, oscillating between 4.20% (August 2016), 3.80% (October 2016) 3.95% (December 2016) and 4.10% (January 2017 ).
A level well below the consumer credit rates practiced by banks in the United Kingdom (7.7% in December 2016) and more generally in the USD zone (5.4%). To get the best rate for your loan, do not hesitate to compare consumer loans online.
In January, total consumer credit outstanding amounted to 160 billion USD. A constantly increasing amount since it amounted to 148.2 billion USD in June 2015, 156.2 billion USD in June 2016 and 159.6 billion USD in December 2016.
How did the market fare in the last quarter of 2016?
The trend observed at the start of the year is confirmed by the latest data from the banking organization for the last quarter of 2016. The upward movement is mainly driven by amortizable loans (+ 6.6%) and leases, notes the Good lender.
Revolving credit is lagging behind with a decline of -1%. The majority of this type of credit is distributed by banks (51.6%). Specialized establishments see their share of overall outstandings decrease. Perhaps a sign of the tightening of the legislation on this type of loan for which an amortizable credit solution must be offered at the time of subscription (from 1000 USD).
Optimistic about the sector boosted by car credit
For its part, the Association of Financial Companies indicates an increase of + 13% in the activity of specialized establishments in January 2017. However, the health of the sector remains lower by -12.9% compared to the peak reached in September 2008.
The market is driven by new car financing with an advance of + 19.6% compared to January 2016 and 17.5% in the last quarter. The reason? The attraction of individuals for LOA ( rental with option to buy sometimes called car leasing) which increased by + 40.3% compared to January 2016. Only drop in the association table, the credits allocated for the purchase a new vehicle (-11.5%). Even revolving credit increased by + 2.8% with 848 million production in January 2017.