The interest portion represented 60% of the average mortgage loan repayment in July, compared to 55% in the same month last year, according to data from the National Statistics Institute (INE).

The average repayment was set at 405 euros, one euro more than in the previous month and 35 euros higher than in July 2023, which represents a monthly variation of 0.2%.

In contracts signed in the last three months, the average repayment amount rose by 14 euros compared to the previous month, to 611 euros, which corresponds to an increase of 1.2% compared to the same month of the previous year.

In July, the implicit interest rate on all housing loan contracts fell for the sixth consecutive month, to 4.487%, representing a drop of 2.6 basis points compared to the previous month (4.513%), according to the INE.

For contracts signed in the last three months, the interest rate fell for the ninth month, falling from 3.729% in June to 3.713% in July. The average capital outstanding for all housing loans increased by 250 euros, to 66,529 euros.