In 2022, Portugal overturned the sinking mortgage interest rate it had gone through during the coronavirus (COVID-19) pandemic. The country did not escape from the overall trend of falling mortgage interest rates observed in Europe during the COVID-19 crisis, which positioned national mortgage interest rates at 1.54 percent in the fourth quarter of 2021.
Interest rates as a weapon against inflation
Even though interest rates are affected by economic growth, monetary policies, the bond market, the stability of lenders, and the overall conditions of the housing market, inflation currently leads the European Central Bank (ECB)’s decisions regarding them. As inflation has been low in Europe since the 2008 financial crisis, the ECB lowered interest rates in an attempt to promote economic growth. However, the economic difficulties brought up by the coronavirus pandemic and the Russian-Ukrainian war have fueled inflation. To counteract this rise, the ECB increased interest rates. Portugal’s abrupt rise in interest rates on new residential loans from 0.83 percent in 2021 to 3.24 percent in 2022 demonstrates the balanced and calculated act between the two financial indices.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
European Mortgage Federation. (May 3, 2024). Mortgage interest rate in Portugal from 1st quarter 2013 to 4th quarter 2023 [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/615018/mortgage-interest-rate-portugal-europe/
European Mortgage Federation. "Mortgage interest rate in Portugal from 1st quarter 2013 to 4th quarter 2023." Chart. May 3, 2024. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/615018/mortgage-interest-rate-portugal-europe/
European Mortgage Federation. (2024). Mortgage interest rate in Portugal from 1st quarter 2013 to 4th quarter 2023. Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/615018/mortgage-interest-rate-portugal-europe/
European Mortgage Federation. "Mortgage Interest Rate in Portugal from 1st Quarter 2013 to 4th Quarter 2023." Statista, Statista Inc., 3 May 2024, https://www.statista.com/statistics/615018/mortgage-interest-rate-portugal-europe/
European Mortgage Federation, Mortgage interest rate in Portugal from 1st quarter 2013 to 4th quarter 2023 Statista, https://www.statista.com/statistics/615018/mortgage-interest-rate-portugal-europe/ (last visited September 01, 2024)
Mortgage interest rate in Portugal from 1st quarter 2013 to 4th quarter 2023 [Graph], European Mortgage Federation, May 3, 2024. [Online]. Available: https://www.statista.com/statistics/615018/mortgage-interest-rate-portugal-europe/