Average monthly house purchase payment rises to a record 450 euros in September

In September, the average monthly mortgage payment in Portugal reached a record high of 450 euros, marking a 9% increase year-on-year. This rise is attributed to both existing and new contracts, with the average interest rate for new housing loans also increasing to 3.05%. The data from the Bank of Portugal indicates that this is the 13th consecutive month of rising payments, surpassing the previous record of 446 euros in August. Additionally, 86% of new loans were contracted at a mixed rate, combining fixed and variable interest rates.