The recent rate cuts undertaken by the European Central Bank have triggered the mortgage market. The number of mortgages established on homes was 41,306 in September, 33.9% more than in the same month of 2023. This is the largest increase since September 2021, according to data published this Thursday by the National Institute of Statistics (INE). ).
The average amount of these operations, in turn, stood at 150,528 euros, with an increase of 4.5%. However, of the total number of properties registered in the property registries (from public deeds carried out previously) the average amount of mortgages decreased by 5.2%.
Regarding interest, the average rate was 3.14% and the average term was 25 years. From then on, for mortgages on variable-rate homes (38.6% of the total), the average rate was 2.92%, and for those that were at a fixed rate (61.4%), it was of 3.30%.
As already mentioned, this good data from mortgage firms is explained by the three rate cuts undertaken this year by the European Central Bank, which left the reference rate, that of the deposit facility, at 3.25%. .
#mortgage #firm #soars #September #largest #increase #years
