Mortgage credit: Implicit interest rate decreases again in January.
Reduction in rates is reflected in the relief of monthly installments in more recent contracts.
The implicit interest rate on home loans drops to 3.978%
The implicit interest rate in housing credit contracts experienced a decrease to 3.978% in January 2025, representing a decrease of 11.3 basis points compared to the previous month.
In December, the rate was 4.091%, as read on Notícias ao Minuto based on data from the National Institute of Statistics (INE).
For contracts signed in the last three months, the interest rate dropped from 3.349% in December to 3.113% in January.
The average monthly installment settled at 401 euros, decreasing by 2 euros compared to December and 3 euros compared to January 2024.
In the last month, the interest component represented 56% of the average installment value. In contracts signed in the most recent quarter, the average installment decreased by 32 euros, settling at 600 euros, which translates to a 6.1% reduction compared to the same period last year.
The average amount of debt related to all housing loans increased by 522 euros, totaling 68,992 euros.
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