Are Portuguese Mortgage Rates Lower Than the Euro Area Average?



Discover the latest data showing that Portuguese homeowners are enjoying lower mortgage rates compared to their European counterparts.

The interest rate on new home loans in Portugal continued to decrease in April, reaching 3.75 percent, according to data released by the Bank of Portugal. This marks the seventh consecutive month of decline, with the rate dropping from 2.88 percent in March. The latest figures also show that the average interest rate on new mortgage loans in the euro area was slightly higher at 3.77 percent, the first time Portugal has been below the eurozone average since September 2022.


Are Portuguese Mortgage Rates Lower Than the Euro Area Average?

The Bank of Portugal reported that 75 percent of new home loans in April were contracted at a fixed rate, while mixed-rate loans accounted for 22 percent of the housing loan stock. Early repayments of mortgage loans increased slightly to 0.93 percent of the loan stock, with total repayments making up 91 percent of early repayments in April.

In terms of new loan contracts for private individuals, there was an increase of €71 million in April, with the majority going towards housing loans. Consumer credit and loans for other purposes also saw slight increases, while credit negotiations decreased by €138 million.

Overall, the data from the Bank of Portugal indicates a positive trend in the Portugal housing market, with lower interest rates and increased loan activity in April.

The latest data from the Bank of Portugal shows a continued decrease in interest rates on new home loans, with Portugal now below the eurozone average. The increase in new loan contracts for private individuals also points to a growing demand for housing and consumer credit in the country.

Are Portuguese Mortgage Rates Lower Than the Euro Area Average?

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