Mortgages on homes soar by 12% and mark the highest figure in 15 years for the month of September, the interest rate drops to 2.85%
The number of mortgages constituted on homes shot up 12.2% in September compared to the same month in 2024, totaling 46,120 loans, its highest figure in this month since 2010, according to data released this Thursday by the National Institute of Statistics (INE).
With the September year-on-year advancehigher by almost five points than that experienced in August (+7.5%), the home mortgage firm has recorded 15 consecutive months of increases.
The average interest rate on home loans stood at 2.85% in Septemberdown from 2.89% the previous month and the lowest since January 2023 (2.64%). With the September data, eight consecutive months have already accumulated with a rate below 3%.
The average interest rate for mortgages constituted on homes managed to drop 3% last February for the first time in almost two years, and in September it managed to remain below that level. According to Statistics, the average term of housing loans stood at 25 years in the ninth month of 2025.
The average amount of mortgages established on homes rose 14.1% year-on-year in September, up to 171,612 euroswhile the borrowed capital increased by 28.1%, to exceed 7,914 million euros.
39.4% of home mortgages were established in September at a variable rate, while 60.6% did so at a fixed rate. The average interest rate at the beginning was 2.89% for variable rate mortgages and 2.83% for fixed rate mortgages.
In inter-monthly rate (September over August), home mortgages they soared by 38.6% and borrowed capital increased by 40.2%. For its part, the average amount of home mortgage loans rose 1.2% compared to August.
In the first nine months of the year, the number of mortgages for the purchase of a home has increased by 21.4%with advances of 37.5% in the capital lent and 13.2% in the average amount of loans granted.
