Mortgage interest rate falls to 0.792%

Interest rates in Portugal are heading lower. Media sources have revealed that the mortgage interest rates have dropped compared to the previous month.

According to a report by the Portuguese government office for national statistics INE (The Instituto Nacional de Estatística), interest rates on mortgages decreased to 0.792 %, a marginal fall compared to July when it stood at 0.8%.

The INE further indicated that the the loans were served mostly for mortgages and that the implicit interest rate fell to 0.807% (-0.9 b.p. m-o-m). The report also confirms that there was an increase in the interest rate to 0.679% as compared to 0.670% for contracts signed last month in in July.

Image source credits: CC BY-ND 4.0 Advantus Media Inc | QuoteInspector.com in The Urban Journal

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