The average instalment increased by 2 euros, to 253 euros.
According to the analysis of Implicit Interest Rates on Housing Loans, published today by the National Statistics Institute, the implicit interest rate on housing loan contracts reached 0.807% in November, after standing at 0.803% in October.
Contracts signed in the last three months saw the average mortgage rate rise from 0.665% in October to 0.692% in November. The average outstanding debt increased 396 euros to 58,084 euros in the month under review. The average instalment rose by 2 euros to 253 euros. The INE noted that the implicit interest rate on housing loans rose to 0.807%, up 0.4 basis points on the previous month. In contracts entered into in the last three months, the interest rate was 0.692% (0.665% in the last period).
Loans for housing purchases, the most relevant in the set of housing loans, saw their implicit interest rate increase to 0.821% (+0.2 b.p. when compared to October). For contracts signed in the last three months, the interest rate increased 2.4 b.p. compared to the previous month, settling at 0.682%.
