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Mortgage Defaults Fall Y-o-Y in August  

28 September 2020 – Portuguese banks granted a total of €93.786 in residential mortgages in August, marginally down month-on-month but up year-on-year, according to a report by the Bank of Portugal. The rate of defaults on those loans held steady at 0.7%, the same as in July and 1.3% below the level seen in the same month last year.

Financial institutions also extended 19.222 billion euros in consumer loans in August was, up by 0.8% m-o-m and by over 5% y-o-y. Non-performing loans in this segment accounted for 6.6% of the total in August, down from 6.7% in July and 7.5% in August 2019.

Original Story: Diário Imobiliário

Translation/Summary: Richard D. Turner