Mortgage credit: Interest rate dropped for the 8th consecutive month.
In September, the implicit interest rate on housing loans fell for the 8th consecutive time, reaching 4.362%. Although still higher than the same period last year, according to the National Institute of Statistics (INE).
Interest rate on housing credit continues to decrease.
In September, the implicit interest rate on mortgage loans continued to fall for the 8th consecutive month, reaching 4.362%, although it remains above the value recorded in the same period of 2023, according to the National Institute of Statistics (INE).
According to what is read in the Notícias ao Minuto, for more recent contracts, the interest rate fell from 3.665% in August to 3.569% in September. In total housing acquisition credits, the average rate dropped to 4.322%, while in the last three months it was 3.540%.
The average monthly installment in September was 404 euros, remaining the same as August, but showing an increase of 4.7% compared to the same month of the previous year. Of this total, 59% of the amount refers to interest payment.
In recently signed contracts, the monthly installment amount increased to 622 euros, and the average outstanding amount in the newest contracts was 132,339 euros, approximately 3,548 euros higher than August.
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