Average interest rate on new loans drops to 4.03% in January.

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The average interest rate on new loans slowed from December to January.

The average interest rate for new home loan operations in January dropped to 4.03%. It was 4.12% in December 2023.  

According to data from the Bank of Portugal (BdP), quoted by Notícias ao Minuto, "by type of transaction, the average interest rate of new housing credit contracts decreased by 0.18 percentage points to 3.81% in January 2024".  

"It was the third consecutive month in which a decrease in this rate was recorded. The average interest rate for renegotiated contracts remained at 4.39%", the news also reads."

What totaled 2.555 million euros in new loans to individuals in the month of January - 45 million less than in December 2023.

By type of transaction, the value of new loans to individuals decreased by 140 million euros in the same month, totaling 1,787 million euros.

"This reduction was observed in the purposes of housing (-141 million euros, to 1185 million euros) and in other purposes (-46 million euros, to 162 million). Meanwhile, new consumer loans increased by 46 million euros, reaching 440 million euros," as reported on the news website.

Regarding credit renegotiations, the increase amounted to 95 million euros compared to December 2023, totaling 768 million euros in January 2024. The focus was on housing credit renegotiations, representing 716 million euros.

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