Economic
Despite the gradual rise in interest rates on loans to buy housing, the average monthly charge of households with house payment remains at 260 euros for the fourth month. The interest rate implicit in the set of mortgage loans stood at 1.505% in July, increasing by 0.015 percentage points from the previous month, today unveiled the National Statistics Institute (INE). It was the 11th consecutive month of increases in interest rates charged by banks on loans for house purchase. In August last year, this rate was at 1.407%. According to the Portuguese statistics office, the average loan repayments for existing contracts was unchanged in July for the fourth month in a row at 260 euros.
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