Mortgage rates

Interest on mortgage rates has hit a historic low in Portugal, having fallen for six consecutive months, allowing home owners with a loan of 100,000 euros to save around 167 euros a month.

According to data released by the national statistics institute (INE), the interest rates on mortgages which include the Euribor, spread and other obligations in the contract, has fallen in six months from 5.971 per cent to 3.157 per cent.

The Euribor itself has also been falling from 5.129 per cent in September 2008 to the current 1.436 per cent.