Data released today by the National Institute of Statistics (INE) reveals that in contracts signed over the past three months, the interest rate decreased by 2.3 basis points to 2.850%, marking a cumulative decline of 153.0 basis points since the peak in October 2023.
For the financing destination “housing acquisition,” the most significant in the housing credit sector, the implicit interest rate for all contracts fell to 3.179% (-4.7 basis points compared to September).
In contracts signed over the past three months, the interest rate dropped by 2.2 basis points compared to the previous month, reaching 2.850%.
Considering all contracts, the average monthly payment in October was 394 euros, one euro more than the previous month and 10 euros less (-2.5%) than in October 2024.
Of the payment amount, 194 euros (49.2%) corresponded to interest payments and 200 euros (50.8%) to principal amortization.
INE notes that “for the second consecutive month, the interest component held a weight below 50%, something that has not been seen since April 2023.”
In contracts signed over the last three months, the average payment increased by one euro, reaching 667 euros, reflecting a 5.2% increase compared to the same month last year.
In October, the average outstanding capital for all housing loans rose by 684 euros compared to the previous month, reaching 74,180 euros.
For contracts signed in the last three months, the average outstanding amount was 165,593 euros, 1,832 euros more than in September.
