The implied rate on home loan contracts rose to 3.110% in April, the highest since June 2009 and 28.1 basis points above March, INE announced on Friday.
According to the National Institute of Statistics (INE), the interest rate in contracts signed in the past three months rose from 3.507% in March to 3.675% in April, reaching its highest value since October 2012.
For financing the purchase of a house, the most relevant in the series of mortgage loans, the implicit interest rate for all contracts increased to 3.098% (+27.5 basis points compared to March). In contracts signed in the past three months, interest rates increased by 16.0 basis points compared to the previous month and stood at 3.661%.
Looking at all contracts, the average value of the monthly installment in April was 341 euros, 10 euros more than in March and 84 euros more than in April 2022 (an increase of 32.7%).
Of this amount, EUR 163 (48%) corresponds to interest payments and EUR 178 (52%) to amortized capital — in April 2022, the interest component represented 16% of the average value of the term (EUR 257).
In contracts concluded in the last three months, the average value of the installment increased in April by 14 euros compared to the previous month, reaching 590 euros, which is an increase of 52.5% compared to the same month of the previous year.
In April, the average outstanding capital for all contracts increased by EUR 273 compared to the previous month to EUR 62,972. For contracts signed in the past three months, the average amount due was 125,734 euros, 564 euros more than in March.
Source: DN
