Do you have housing credit? See what will happen to your loan here

The simulations carried out by CNN Portugal based on the Banco de Portugal simulator allow us to verify that in all deadlines there is a reduction in the installment payable to the bank. Check your case

KNOW MORELower interest rates will come to a halt again but the installment payable to the bank will decrease

♦ How much has already increased and how the house payment will evolve in April

30-year loan with 1% spread

EURIBOR 3 MONTHS

EURIBOR 6 MONTHS

EURIBOR 12 MONTHS

NOTE 1 | What are Euribor rates

Euribor is the abbreviation for Euro Interbank Offered Rate. Euribor rates are based on the interest rates that a set of European banks are willing to pay to lend money to each other. In the calculation, the highest and lowest 15% of all collected quotes are eliminated. The remaining rates are calculated as an average and rounded to three decimal places. The value of Euribor rates is determined and published daily. There are five different Euribor rates, all with different maturities (one week, one month, three months, six months and 12 months).

NOTE 2 | The ECB has three reference interest rates:

– The rate for main refinancing operations, under which banks can borrow from the ECB for a period of one week: is 4.50%, but was set at zero between March 2016 and July last year;

– The deposit rate, which determines the interest that banks receive on deposits made with the ECB: is 4%. But between July 2012 and June 2013 it was zero. And between June 2013 and July last year it was negative, forcing banks to pay for the deposits they made with the ECB;

– And the liquidity provision rate, which determines the interest that banks pay when they take out loans from the ECB for a period of one day (overnight). It is currently at 4.75%.