27 July 2020 – The implicit interest rate on mortgage loans rose to 0.932% in June, up from 0.903% in February, according to data published by Portugal’s National Statistics Institute.
Interest rates on mortgage loans to acquire a home, which makes up the bulk of housing loans, 0.946% (+2.8 b.p m-o-m). For contracts signed in the last three months, the interest rate reached 0.887%.
Average mortgage loans rose by 116 euros to 54,126 euros, while average monthly payments increased by one euro to 228 euros.
Original Story: Jornal Económico – Inês Pinto Miguel
Translation/Summary: Richard D. Turner