Mortgage interest rate drops to 3.570% in May.
Interest rates and average mortgage payments decreased in May.
Interest rate falls from 3.060% to 3.057% in the month of May.
The interest rate implicit in all housing credit contracts has decreased again, now to 3.570%, in the month of May.
This corresponds to a drop of 9.3 basis points comparing with the month of April (3.663%), according to data from the National Statistics Institute (INE) released by Notícias ao Minuto.
This decrease refers to contracts signed in the last three months.
In addition, the average installment settled at 395 euros, representing a decrease of 1 euro compared to the previous month, and 9 euros compared to May 2024.
It should also be noted that, in the month of May, the portion related to interest represented 53% of the average installment; and in contracts signed in the last three months, the average installment amount increased by 20 euros - to 641 euros, a 6.3% rise year-on-year.
Finally, the average capital owed for all housing loans increased by 629 euros, reaching 71,042 euros.
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