Spain 
Italy 
Greece 
Interest Rate on Housing Loans Falls to 1.023% in February
20 March 2018
The implicit interest rate in all housing loan contracts declined slightly to 1.023% in February, from 1.024% in January. Meanwhile, the average monthly instalment fell by one euro, compared to the first month of the year, to 239 euros.
“The implicit interest rate on housing loans declined slightly, from 1.024% in January to 1.023% in February. In the contracts signed in the last three months, the interest rate reached 1.602%, an increase of 0.7 basis points compared to January,” the National Statistics Institute (INE) reported on its website.
According to the INE, “financing for home purchases, the most relevant subset of housing loans, the implicit interest rate for the all outstanding contracts was 1.045%, the same as in the previous month.” For contracts signed in the last three months, the interest rate rose from 1.588% in January to 1.598% in February.
In February, the average monthly payment on outstanding loans fell by one euro to 239 euros. In the contracts concluded in the last three months, the average value of the payment was 319 euros (307 euros in the previous month).
The average outstanding capital for all loan contracts decreased by 2 euros in February compared to January, falling to 51,726 euros. “For the contracts signed in the last three months, the average amount of outstanding capital increased from 94,049 in January to 94,782 euros,” the INE stated.
Original Story: Idealista
Translation: Richard Turner