Mortgage interest rates go up again, reaching highest values of the last two years
Mortgage interest rates have shown an upward trend over the last three months. The monthly repayments to the bank remained the same, while the capital outstanding for all loans went up by €68.
The interest rates for house loans stood at 1.039% in August. This is the highest value since September 2016, according to the information released by the Portuguese Office for National Statistics (INE) this Thursday. Recent contracts are also subject to higher interest rates.
“The implicit interest rate in the lease went up from 1.308% in July to 1.309% in August. For the contracts signed in the last three months, the interest rate stood at 1.498% this month, and 1.471% in July”, INE shows.
Despite the increase in average interest rates, the monthly repayments to the bank remained at €242.
Meanwhile, the capital outstanding for all loans went up by € 68. This tendency can be explained by the fact that the new requests for financing are also at an all-time high, with the average capital outstanding increasing by €616 to €98.374.
This is also the highest value recorded by INE since the start of this report, in 2009.
