BCE mantém taxas de juro inalteradas: “Momento certo para contratar melhores condições”

BCE keeps interest rates unchanged: "Right time to secure better terms"

For the first time in over a year, the European Central Bank (ECB) decided to pause the rise in interest rates, keeping the values unchanged. According to João Lemos, Director of Savings Operations at Poupança no Minuto, this could be "the right moment to secure better conditions in housing credit".

30 Oct 20234 min

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Mixed rate is one of the most sought-after options in the market, currently, by Portuguese people with mortgage credit. This allows access to a stable and lower monthly payment than the currently variable payment. Learn more by contacting the credit intermediaries of Poupança no Minuto at Poupança no Minuto.  

To learn about the ECB's decision and the Savings Operations Manager's commentary at Poupança no Minuto, read on.

BCE decides to keep interest rates unchanged.

According to the decision of the European Central Bank (ECB), this Thursday, the interest rates remain unchanged, in line with what was predicted the previous month.

The decision came to put an end to the interest rate increase that has been observed since July 2022. In contrast, the ECB announces that inflation will continue to be "too high for too long", as can be read in a publication shared by Notícias ao Minuto.

In a statement quoted by Notícias ao Minuto, the ECB announces that it will "keep the three key interest rates unchanged. The information that has been made available largely confirmed the previous assessment of medium-term inflation prospects."  

Therefore, the interest rate applicable to the main refinancing operations and the interest rates applicable to the permanent liquidity provision facility and the permanent deposit facility remain at 4.50%, 4.75% and 4.00%, respectively.

According to the platform's news, the ECB's medium-term goal remains to ensure inflation at 2%, and it considers that the policy rates are now at levels capable of contributing to this end. Therefore, "future decisions of the ECB Council will ensure that policy rates are set at sufficiently restrictive levels, for as long as necessary."

Note that the continuous increase in interest rates has affected the economy as a whole, with a major emphasis on the rise in mortgage payments, in contracts with a variable interest rate.

"It may be the ideal time to hire a mixed interest rate"

According to João Lemos, Operations Director of the Credit Intermediary Poupança no Minuto (PNM), "the ECB's decision to maintain interest rates confirms a prediction about the need to stabilize the pressure of reference rates within the EU, as anticipated in the previous review to avoid a new change".

The head of PNM also explains that this decision "came to strengthen the stabilization of interest rates pressure, consequently in families' budget, creating an opportunity for the partner banks of Poupança no Minuto to apply new attractive mixed interest rates solutions and proposals, with a benchmark below 4%, where the Euribor currently stands".

With a focus on saving on mortgage financing, the expert also guarantees that these promotional offers "allow for stability" in charges and less pressure on families' budgets in the next two to four years. Therefore, "it may be the right time" to contract better housing credit conditions, compared to what we have seen since late 2022.

Currently, there are banks running campaigns with mixed rates starting at 3.35%, with exemption from initial commissions. These conditions can result in a significantly lower monthly payment on your mortgage than if you have a variable rate contract.

To access these proposals, you can renegotiate the conditions of your loan, or make a credit transfer to a new bank that allows you to access the mixed rate. The transfer is usually a cost-free process that can result in savings impacting your family budget. 

Contact the credit intermediaries of Poupança no Minuto for a free service, which will evaluate your specific case, free you from bureaucracies, and help you compare simulations and choose the best proposal for you. Don't leave for tomorrow what you can save today!

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