Mortgage credit: Interest rate decreases again in December.

Interest rate drops, but still remains above the value of 2023.

The interest rate on mortgage contracts fell to 4.091% in December, according to the National Institute of Statistics (INE) - as reported in Notícias ao Minuto.

This value translates to a reduction of 9.5 basis points (p.b.) compared to November's rate of 4.186%.

In our most recent contracts (concluded in the last three months), the interest rate also decreased, from 3.423% in November to 3.349% in December, as indicated by INE.

Regarding the average amount, it remained at 403 euros, 3 euros higher than the amount recorded in December 2023.

For the year 2024, the average annual housing loan interest rate was 4.372%, a significant increase from 3.612% in 2023. This increase was reflected in the average annual installment, which increased by 42 euros (11.5%), reaching 404 euros, as revealed by INE.

As for the average annual capital outstanding, both for total home loans and for financing aimed at "home acquisition," there was an increase. It went from 63,459 euros and 70,962 euros in 2023 to 66,508 euros and 73,917 euros in 2024, respectively.

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