Portugal’s Mortgage Rates Soar: What You Need to Know



Portugal's mortgage rate swing has seen a significant shift in just one year, with banks now offering the seventh most expensive mortgage loan in the Eurozone. Find out what you need to know about this sudden change and how it may impact you.

The average interest rate on new housing loans in Portugal has nearly doubled in the past year, according to data from Banco de Portugal. In September 2022, the average interest rate stood at 2.23%, but by September of this year, it had risen to 4.26% - the highest value since February 2012. This significant increase can be attributed to the soaring Euribor rates, which are used as an index for calculating mortgage payments for 98% of housing loans in the country. Over the past year, the 3-month Euribor rate nearly tripled, while the 12-month Euribor rate almost doubled.


Portugal's Mortgage Rates Soar: What You Need to Know

The fluctuation in Portugal's ranking of housing credit offers in the Eurozone may be linked to the types of contracts signed by families. This trend highlights the challenges faced by Portuguese households in securing affordable housing loans amidst the changing economic landscape.

In conclusion, the sharp rise in interest rates on housing loans in Portugal reflects the impact of fluctuating Euribor rates and the challenges faced by families in securing affordable housing credit. As the housing market continues to evolve, it is crucial for policymakers and financial institutions to address the needs of borrowers and ensure access to fair and transparent lending practices.

Portugal’s Mortgage Rates Soar: What You Need to Know

Support Ogusyis by making a contribution – no matter how small.


Enter your amount
£
Enter your amount
£
Enter your amount
£
Yourname
Email
Phone


Brussels Property Prices Set to Rise According to European Commission Forecasts

The European Commission predicts a surge in real estate prices in Brussels and across the EU due to low housing supply. Stay ahead of the market trends.

The European Commission predicts a surge in real estate prices in Brussels and across the EU due to low housing supply. Stay ahead of the market trends.

Read more

Lisbon Luxury Home Prices Surpass New York in Global Rise

Knight Frank Prime Global Cities Index reveals Lisbon prices surged 4.1% in 12 months, outpacing New York's 3.2% increase.

Knight Frank Prime Global Cities Index reveals Lisbon prices surged 4.1% in 12 months, outpacing New York\'s 3.2% increase.

Read more

Squatter Fears in Southern Spain: Murcia Property Sellers Remove For Sale Signs

Discover why property sellers in the Murcia region of Southern Spain are taking down 'For Sale' signs to deter squatters.

Discover why property sellers in the Murcia region of Southern Spain are taking down \'For Sale\' signs to deter squatters.

Read more

Best Holiday Homes in Switzerland to Rent: Top Towns, Cantons, Regions, and Ski Resorts

Discover the best holiday homes in Switzerland to rent with E-Domizil's top picks for towns, cantons, regions, and ski resorts. Start planning your spring or summer getaway today.

Discover the best holiday homes in Switzerland to rent with E-Domizil\'s top picks for towns, cantons, regions, and ski resorts. Start planning your spring or summer getaway today.

Read more

Renting in Spain: Tenant or Landlord - Who Pays for Repairs?

Discover the legal responsibilities for repairs in rental properties in Spain. Find out if it's the tenant or landlord who foots the bill.

Discover the legal responsibilities for repairs in rental properties in Spain. Find out if it\'s the tenant or landlord who foots the bill.

Read more

UK’s Top Buy-to-Let Hotspots: Where Landlords Are Investing Now

Find out where landlords are still buying in the UK with our list of top buy-to-let hotspots. Discover the reasons behind these investment choices today.

Find out where landlords are still buying in the UK with our list of top buy-to-let hotspots. Discover the reasons behind these investment choices today.

Read more

Over 1,000 Hotels for Sale in Portugal: A Booming Market Analysis

Discover the latest data from CASAFARI on the surge of hotel listings in Portugal, with 31% more properties available in 2024 compared to the previous year.

Discover the latest data from CASAFARI on the surge of hotel listings in Portugal, with 31% more properties available in 2024 compared to the previous year.

Read more

Spanish Island House Prices Nearing Pre-Boom Levels, Tinsa Data Reveals

Tinsa data shows house prices on Spanish islands surged in April, approaching 2007/2008 highs. Stay informed on the real estate market trends.

Tinsa data shows house prices on Spanish islands surged in April, approaching 2007/2008 highs. Stay informed on the real estate market trends.

Read more

Tenant Struggles Continue: Australia's Rental Crisis Worsens

Discover the latest updates on the rental crisis in Brisbane and regional Queensland, where vacancy rates remain at record lows. Find out how tenants are facing challenges in finding suitable homes in the tight Australia rental market.

Discover the latest updates on the rental crisis in Brisbane and regional Queensland, where vacancy rates remain at record lows. Find out how tenants are facing challenges in finding suitable homes in the tight Australia rental market.

Read more

Copyright © Ogusyis. All rights reserved. The Content may not be copied, distributed,  republished, uploaded, posted or transmitted in any way without the prior written consent of Ogusyis.