INE data shows that in April, bank housing loans increased month-on-month and average interest rates resumed their downward trend in recent months
The Bank of Portugal announced today that in April, bank loans of US$1.22 billion were used to purchase houses, higher than in March, and the average interest rate resumed the downward trend in recent months.
“In April 2021, the total amount of new loans for housing, consumption and other purposes was 1.22 billion, 387 million and 174 million euros,” said the Bank of Portugal (BdP) in a statistical information report released today.
In March, the new home loan business increased to 1.382 billion euros, higher than the 999 million euros in the previous month, and the highest value since January 2008.
In the new housing loan business, the average interest rate in April fell by two basis points to 0.82%, resuming the downward trend in recent months.
In terms of consumer credit and other uses, the average interest rates were 6.51% (6.45% in March) and 3.94% (2.99% in March), which is a signal.
The average interest rate on new loans issued to non-financial companies rose by three basis points compared with March to 1.99%.
In terms of different sectors, the interest rate for businesses under 1 million euros rose by 5 basis points to 2.30%, and the interest rate for businesses above 1 million euros fell by 5 basis points to 1.55%.