Friday, August 22, 2014

Implicit interest rate on housing loans is rising 11 months ago – Business Journal – Portugal

Implicit interest rate on housing loans is rising 11 months ago – Business Journal – Portugal

INE data relating to July show that the implicit interest rate for housing credit is rising since September last year. On the other hand, the monthly burden on families with the house remained unchanged at 260 euros.

The implicit interest rate for housing credit rose again in July , albeit slightly. According to data released this Friday, August 22, the National Statistics Institute (INE), in July, this rate stood at 1.506%.

In June, the interest rate implied to housing loans stood at 1.491%. Since September 2013 that the implicit interest rate on housing loans is rising, ie, for 11 consecutive months.

In contracts for house purchase in July, the interest rate was fixed at 1.520%.

For contracts signed over the last three months, the implicit interest rate stood at 3.092%, which reveals slightly higher than the June month in which stood at 3,087 %.

On the other hand, the burden of families with housing loans in July, remained unchanged at 260 euros. Since April this year, the average loan repayments on housing loans remains unchanged.

The average loan for the whole of the mortgage signed over the last three months contracts, stood at 331 euros plus eight euros than the value observed in the previous month. In contracts with the acquisition of target housing, the average loan remained in May, in 270 euros, the same value as in the previous month.

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