The average interest rate on new housing credit operations recorded the largest reduction in the last nine months, decreasing by 0.11 percentage points from April to 2.96%. This decline was observed in both new contracts and renegotiated contracts, with average rates reducing by 0.10 percentage points and 0.14 percentage points, to 2.92% and 3.18%, respectively, according to the announcement by the Bank of Portugal.
The average interest rate on new fixed-term deposits for individuals decreased for the 17th consecutive month, dropping from 1.64% in April to 1.49% in May. The volume of new fixed-term deposit operations for individuals increased by 123 million euros, reaching a total of 13.093 billion euros.
For new deposits with a term of up to one year, the average interest rate decreased by 0.15 percentage points to 1.50%. This remained the term category with the highest average remuneration, representing 95% of new deposits in May.
The average interest rate on new deposits across Eurozone countries decreased by 0.11 percentage points, to 1.87%. Portugal fell one position among Eurozone countries, now ranking as the country with the fourth lowest rate.
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