In January, the implicit interest rate on housing loans fell 2.4 basis points compared to December 2020 to 0.897 percent, maintaining the downward trajectory that began in September 2020.
For the purpose of financing for house purchases, the most relevant in the set of mortgages, the implicit interest rate for total contracts fell to 0.892 percent, down 2.3 basis points compared to December.
In contracts signed in the last three months, the interest rate for this type of financing was 0.741 percent.
Considering all the contracts, the average value of the instalment remained at €227. Of this amount, €41 (18 percent) correspond to payment of interest and €186 (82 percent) to amortised capital.
In contracts signed in the last three months, the average value of the instalment fell nine Euros, to €285.
In January, the average capital outstanding for all contracts rose by €199 in comparison to the previous month, to stand at €55,286.
For contracts entered into in the last three months, the average amount of principal outstanding, at €113,233, rose €212 in comparison to December.
Mortgage interest rates at new low
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