Crédito habitação: Prestações indexadas à Euribor vão descer a todos os prazos em 2024

Mortgage credit: Euribor-indexed installments will decrease for all terms in 2024.

For those with a variable interest rate housing loan, 2024 brings good news: an expected relief in Euribor rates for three, six, and 12 month terms. Find out when.  

28 Dec 20234 min

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Are you looking for better conditions in your mortgage? There are options that can help you, both to renegotiate the contract and to transfer it to another bank. Talk to a credit intermediary from Poupança no Minuto to learn more. Or first read what to expect from your installment in the near future.

Do you have a housing loan? Relief in installments is (finally) coming.

The year of 2023 was challenging for housing credit borrowers with a contract indexed to Euribor, due to the rise in benchmark interest rates and consequent increase in Euribor rates. Variable rate contracts were then following the upward trend and mortgage payments felt a significant impact.

However, the main interest rates are now stabilizing and the European Central Bank (ECB) has decided to keep them unchanged. This means that soon, the forecast is that they will start to decrease.  

So, according to news shared by Notícias ao Minuto, "analysts believe that 2024 may bring better news for those with home loans, especially from the second half of the year," and focusing on "contracts indexed to the Euribor at three and six months will feel relief in installments faster," as contracts "are revised more quickly."

"In the next reviews, families will certainly feel an increase in their monthly installment with the home loan, but starting from the second half of 2024, they will certainly begin to feel this relief in installments. Obviously also dependent on the evolution of rates in the coming months," said Nuno Rico, economist at DECO Proteste, in statements to SIC Notícias.  

Analysts now expect the ECB to maintain benchmark rates at current levels and to proceed with a reduction throughout 2024.

What are the values ​​of the fees involved?

Currently, the Euribor rates are close to 4%, but already below: three months is at 3.925%, six months at 3.945%, and twelve months at 3.758%.

These values contrast with the all-time lows, which were at -0.605% on the three-month Euribor on December 14, 2021, -0.554% on the six-month Euribor, and -0.518% on the 12-month Euribor, the latter on December 21, 2021.  

Note that the Euribor rates began to rise more significantly in February 2022, after the spike in inflation with the start of the war in Ukraine.  

However, at the last ECB meeting in December 2023, the institution decided to keep the interest rates unchanged, as the market prediction.

Best conditions in home credit? It's with Poupança no Minuto.

If you need more immediate relief in paying off your home loan, there are additional solutions that can lighten the amount you pay each month.

When contacting a credit intermediary, such as those from Poupança no Minuto, you can access different financing simulations to understand which bank offers the conditions you are looking for.

Currently, the fixed rate and mixed rate are still savings opportunities for 2024 and 2025, compared to a variable rate. This is because there are banks promoting mixed rate campaigns starting at 2%, fixing the rate for one year, contrasting with Euribor rates of around 4%.  

Detecting another bank, other than yours, with a better fixed or mixed rate proposal, it is possible to transfer your housing credit to that entity.    

The credit intermediary accompanies you throughout the transfer, having no costs in the process - neither for the service, nor for the new mortgage constituted in another bank.

Are you considering? Talk to us to better understand how the various solutions work, or simulate on our Simulators.

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