Home credit: Installments may decrease by around 100€ in March.

Euribor rate decrease could relieve families' budget by €100 in house payment.

The recent falls in Euribor rates bring good prospects for those with scheduled mortgage reviews in March. The reduction in rates can result in a significant relief in the monthly installment, potentially reaching 100 euros.

For example, for a 30-year loan of 150 thousand euros, indexed to the six-month Euribor and with a 1% spread, the reduction in the monthly installment could be around 75 euros, according to calculations by CNN Portugal, cited in the Notícias ao Minuto. In the case of a credit of 200 thousand euros, the decrease will be over 100 euros.

On the past 27th, the three-month Euribor rate reached a new minimum since February 2023, while the six-month rate remained stable at a lower level for over two years. The twelve-month rate saw a slight increase, staying below 2.5% in the three terms analyzed.

The Euribor six-month, which in January 2024 became the most used in Portugal for variable rate home loans, remained at 2.389%, the same value recorded the day before, reaching the lowest level since November 2022.  

According to data from the Bank of Portugal for December, the six-month Euribor represented 37.64% of total loans for permanent own housing with variable interest rates, while the 12-month and three-month rates corresponded to 32.69% and 25.6%, respectively.

Do you want to see your monthly installment decrease even more? There are more solutions, such as renegotiating the conditions of your loan, or transferring the loan to another bank with more advantageous conditions. Know that the credit intermediaries from Poupança no Minuto help in all processes, at no cost, to ensure that you get the most suitable proposal for you! Simulate the transfer here now: