Portugal Interest Rates in 2024

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3.032%

Euribor 3 months

2.822%

Euribor 6 months

2.534%

Euribor 12 months

The best interest rates on the Portuguese market, for all situations

Fixed Rate

The fixed interest rate remains unchanged throughout the loan, which means that your monthly payments will always be the same, regardless of changes in Euribor. This is a great benefit, although fixed rates are generally higher than variable rates.

Variable Rate

Variable Rate adjusts each year in line with Euribor variations. It’s a riskier option, but can be attractive depending on the nature of your project.

Mixed Rate

Mixed rates combine fixed and variable. It offers an initial fixed rate period followed by a variable rate. As the fixed period is usually small, rates are also cheaper. This provides some stability with potential savings if rates decrease during the variable period.

Do you need help for your mortgage?

Although it is difficult to estimate the spreads of the various banks, the role of our brokers is to negotiate as much as possible for you. The aim is to get you the best possible financial conditions.

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Frequently Asked Questions

How often do variable rates change?

Variable mortgage rates can change frequently. They typically fluctuate whenever the underlying benchmark rate, such as Euribor, goes up or down. Lenders usually revise variable rates every 3 months, 6 months or year, depending on the terms of your loan agreement. Pay attention to Euribor trends to anticipate changes in your variable mortgage rate.

Can I switch from a variable to a fixed rate mortgage?

Yes, you can switch from a variable to a fixed rate mortgage in Portugal. Contact your CAFIMO broker to find out about your options and any fees that might apply. While switching will give you stable payments per month, be aware that changing lenders or paying off early could incur early repayment charges.

What happens if Euribor rates increase significantly?

If Euribor rates rise significantly, then your variable mortgage rate will follow. This will lead to higher monthly payments. To help lower the impact of this increase, you could consider switching to a fixed rate mortgage instead. It is important that you plan for potential increases and keep some money aside for financial support.

What is housing market mortgage rate portugal ?

As of March 2024, average housing market interest rates are around 3.5% for variable-rate mortgages, and 4% for fixed-rate mortgages. Keep in mind however that rates may vary per bank, loan-to-value ratio and borrower’s credit profile. So it’s always smart to compare offers from multiple banks before deciding on one offer.