New home loan granting rises in February newsstand

The new mortgage loans rose to 999 million euros in February, over the 968 million in the previous month and the 919 million in the same period in 2020, the Banco de Portugal (BdP) announced today.

According to BdP data, the average interest rate on these new home loans was 0.76%, one basis point less than the previous month, and a new all-time low for the seventh year in a row.

The new consumer credit deals also rose in February. The amount rose to 284 million euros compared to 281 million euros in the previous month, but remained below the 468 million euros in February 2020.

The new loans for other purposes amounted to 190 million euros after 137 million euros in the previous month, but in February 2020 below 243 million euros.

The average interest rate for consumer loans fell to 6.43% and for loans for other purposes to 3.20% (in January it was 6.56% and 3.66%, respectively).

Worldwide, new loans to private individuals amounted to 1,473 million euros (compared to 1,386 million euros in January and 1,630 million euros in February 2020), the second lowest value since August 2020 (the lowest value was recorded in January of 1,386 million euros).

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