The interest rate on all the loans fell again in February to 1,321%, maintaining a trend observed for seven months consecutive shooting and the average loan repayments for 241 euros, the value more -time low.
According to data from the National Statistics Institute (INE), the reduction compared to January was 0.015 percentage points and is explained by the fall in Euribor rates, the most widely used reference rate on loans in Portugal.
In contracts in the last three months, the rate rose 0.008 percentage points compared to January, standing at 2.987% in February, which is explained by the application, the banking, spreads (trading margin ) higher.
The average loan repayments for all mortgage loan contracts decreased one euro as in January, standing at 241 euros, a change that, according to the INE, it was due to the “reduction of two euros recorded by the interest component which offset the increase of one euro in amortization component,” according to the INE said.
For the contracts concluded in the last three months, the average loan stood at 330 euros, higher than the 325 euros in the previous month.
The value of the average outstanding principal for all the mortgage loan contracts was 52,976 euros in February, while in contracts in the last three months the average value of the outstanding stood at 78,069 euros in February (77 304 euros in the previous month).
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