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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