The implicit interest rate on housing credit contracts decreased to 3.570% in May, reflecting a drop of 9.3 basis points (bps) compared to April’s 3.663%, according to data released by INE on Wednesday.
For contracts signed in the last three months, the interest rate decreased from 3.060% in April to 3.057% in May.
The average installment was set at 395 euros, marking a decrease of 1 euro compared to the previous month and a decrease of 9 euros compared to May 2024.
In the last month, the interest component accounted for 53% of the average installment. For contracts signed in the past three months, the average installment rose by 20 euros to 641 euros, representing a year-on-year increase of 6.3%.
The average capital outstanding for all housing credit increased by 629 euros, reaching 71,042 euros.
