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Portugal’s Banks Open the Tap on Mortgages

12 March 2020 – In January of this year, banks in Portugal loaned out a total of 977 million euros in residential mortgages. While that figure is lower than either of the two previous months (€1.12 billion in December and €978 million in the month before), it is 31% above the figure for the same month in 2019 (€746 million). It is also the highest amount for January since 2008 (€1.52 billion).

The Bank of Portugal, which released the figures, added that “the volume of new operations for housing, consumption and other purposes totaled 977, 460 and 215 million euros, respectively.”

Original Story: Idealista

Translation/Summary: Richard D. Turner