MORTGAGE INTEREST RATES DROP (EURIBOR)

MORTGAGES INTEREST RATES DROP FOR THE 12TH CONSECUTIVE MONTH

The interest rate on the total mortgage contracts was 3.978%, the lowest value since July 2023, decreasing 11.3 basis points compared to December (4.091%), according to data released by the National Statistics Institute (INE).

The year 2024 brought new dynamism to the mortgage market in Portugal.

More families applied for mortgages to buy properties, a trend that gained momentum as the Euribor decreased throughout the year, making pressure in the Banks to offer more attractive loans solutions (especially mixed-rate mortgages).

Everything indicates that, in 2025, the demand for mortgages will continue to grow as the Euribor drops to 2%.

Currently we are looking at a (at time of writing): 6Month Euribor at 2,385% & 12Month Euribor at 2,398%. These are the most used Euribor by banks in Portugal and Spain for a mortgage.

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