In February, for all contracts, the average monthly installment amount was set at 400 euros, an increase of one euro compared to the previous month and a descent of three euros (-0.7%) compared to February 2024.
The implicit interest rate on housing credit fell in February for the 13th consecutive month, to 3.830%, lower value since June 2023 and a 15.4 point base base compared to January, the Wednesday announced the
“The implicit interest rate on housing credit descended to 3.830%, lower value at 15.4 points based on the previous month, accumulating a reduction of 82.7 base points from the maximum reached in January 2024 (4.657%),” says the National Statistics Institute (INE).
The interest rate implicit in housing credit reflects the relationship between total interest overdue in the month of reference and the debt capital earlier this month (before amortization).
In contracts entered into in the last three months, the interest rate has risen from 3.169% in January to 3.200% in February, interrupting a cycle of 15 consecutive monthly descents and recording a accumulated decrease of 118.0 base points from October 2023.
For housing acquisition, the most relevant financing destination in the housing credit set, the implicit interest rate for total contracts dropped 14.4 points base compared to January, to 3.806%.
In contracts entered into in the last three months, this rate rose 2.9 base points compared to the previous month, setting at 3.191%.
Average value set at 400 euros
In February, for all contracts, the average monthly installment amount was set at 400 euros, an increase of one euro compared to the previous month and a descent of three euros (-0.7%) compared to February 2024.
Of these 400 euros, 221 (55%) corresponded to interest payment and 179 euros (45%) to amortized capital.
In contracts entered into in the last three months, the average value of the installment rose 21 euros in February compared to the previous month, to 622 euros, and retreated 1.0% over the same month of the previous year.
In February, the average capital of debt to all contracts rose 560 euros compared to January to 69,512 euros.
Already in contracts entered into in the last three months, the average amount due was 141,017 euros, 289 euros than in January.
