Mortgage Issuance Begins Slow Recovery

4 August 2020 – Banks’ issuance of mortgages in Portugal rose slightly in June to 833 million euros, an increase of €3 million (+0.36%) compared to the 9-month low in May. The Bank of Portugal reported that the amount issued rose for the first time in five months, as the pandemic and its associated lockdown had largely shut down the real estate market during the preceding months. Despite the timid recovery, mortgage lending levels are still below in year-on-year terms, down 1.8% or by 15 million euros.

Original Story: Economia Online – Catarina Melo

Translation/Summary: Richard D. Turner