The home loan interest rate dropped to 3.830% in February.

Implicit interest rate decreases in February, but recent contracts show an increase.

The implicit interest rate on housing loans dropped in February, settling at 3.830%, 15.4 basis points less (b.p.) than in January (3.984%), according to data released this Wednesday by the National Statistics Institute (INE), cited in Notícias ao Minuto.

In our most recent contracts, signed in the last three months, the interest rate rose from 3.169% in January to 3.200% in February.

The average monthly installment was 400 euros, 1 euro more than the previous month, but 3 euros less than in February 2024. Last month, the portion allocated to interest payments represented 55% of the total installment.

In the contracts signed in the last three months, the average installment increased by 21 euros, reaching 622 euros, which represents a 1.0% reduction compared to the same period last year. The average outstanding amount in housing credit contracts increased by 560 euros, settling at 69,512 euros.

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