Interest Rates on Mortgages Falls to 0.897%, Another Record Low
21 January 2021 The implicit interest rate on residential mortgages for the acquisition of a home declined for the fourth consecutive month in December to 0.897%. According to data provided by the National Statistics Institute (INE), the figure represents a record low for the series since the INE began tracking in January 2009. The interest rate for contracts signed during the last three months fell from 0.857% in November to 0.790% in December. The average monthly instalment also fell by one euro to 227 euros in December, following an equivalent drop in October. Original Story: Eco Sapo Translation: Richard Turner