In September, 71% of new housing loans were contracted at a mixed rate, which involves a fixed interest rate for an initial period of the contract, followed by a variable rate period, as reported by the Bank of Portugal (BdP) in a statistical note. These contracts represented 41% of the total housing credit stock that month.
These figures pertain to the stock of loans granted to individuals for construction and acquisition of permanent housing.
The average interest rate on new operations at a mixed rate was 2.74% in September, a decrease of 0.02 percentage points from August.
Meanwhile, the average interest rate on new fixed-rate operations increased by 0.07 percentage points to 3.46%, remaining higher than the rate observed in variable-rate operations, which decreased by 0.05 percentage points to 2.80%.
In September, the average monthly installment of the housing loan stock increased to 413 euros, marking the first rise since April 2024.
