The implicit interest rate of mortgage loan contracts rose in October to 1,328%18.4 basis points more than in September (1.144%), reported today the National Institute of Statistics (INE).
In the contracts signed in the last three months, the interest rate went from 1.775% in September to 2.061% in October, which translates into an increase of 28.6 basis points.
For the “home purchase” financing destination, the most relevant of all mortgage loans, the implicit interest rate for all contracts rose to 1.342%, 18.2 basis points more than in September, while in contracts concluded in the last three months the interest rate increased 27.9 basis points compared to the previous monthstaying at 2.054%.
Considering all the contracts, the average fee stood at 279 euros in October, which represents an increase of seven euros compared to September and 28 euros (11.2%) compared to October 2021.
Of the 279 euros of average installment, 69 euros (25%) correspond to interest payments and 210 euros (75%) to amortized capital. In October 2021, the interest component represented 16% of the average value of fee.
In the contracts entered into in the last three months, the average value of the quota rose 18 euros, up to 489 euros.
In October, the average outstanding capital of all contracts increased by 424 euros compared to September, standing at 61,513 euros.
For contracts signed in the last three months, the average amount owed was 130,628 euros, 244 euros less than in September.
Source: Observadora
