Over the past 12 months, mortgage interest rates in the Netherlands have fallen faster than the interest paid on savings, the Dutch central bank said on Monday.

Over the year, average mortgage rates have gone down by 0.6% while the interest on savings has fallen by an average 0.3%, the central bank said.

In May, Dutch households earned an average of 1.04% interest on their savings while new mortgages carried an average interest rate of 2.83%.