The implicit interest rate on home loan contracts fell in March for the second month in a row to 4.613%, down 2.8 basis points from February, the National Institute of Statistics (INE) said on Friday.
In contracts signed over the past three months, the interest rate fell for the fifth month in a row, rising from 4.197% in February to 4.000% in March.
In the housing financing line, the most relevant among all housing loans, the implicit interest rate on all contracts fell in March for the second month in a row to 4.578% (-2.8 basis points compared to February).
In contracts concluded over the past three months, the interest rate on this line of financing decreased for the fifth time in a row, decreasing by 19.9 basis points compared to the previous month and amounting to 3.983%.
Taking into account all contracts, the average monthly payment cost was set at 403 euros in March, consistent with the value recorded in the previous month and 72 euros more (21.8%) than in March 2023, corresponding to zero monthly rate. (-0.2% in the previous month).
Of the contribution amount, 247 euros (61%) correspond to interest payments, and 156 euros (39%) correspond to amortized capital. In March 2023, the interest component was 45% of the average contribution value (€331).
In contracts concluded in the last three months, the average installment value fell by nine euros compared to the previous month, to 619 euros in March 2024, but was still 7.5% higher than the same month in 2023.
In March, the average outstanding capital for all home loans increased by €233 compared to the previous month to €65,391.
For contracts signed in the last three months, the average amount outstanding was 125,354 euros, which is 1,138 euros more than in February.
Author: Lusa
Source: CM Jornal

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