Data from the National Institute of Statistics (Instituto Nacional de Estatística or INE) show the implicit mortgage interest rate fell again in December (reported at about 3.13%), and the broader average mortgage rate for 2025 was reported near 3.41%, reflecting the easing of the Euribor. Multiple outlets link the decline to lower money‑market rates but note bank margins and product types still vary. Those shopping for a mortgage or considering refinancing should compare current offers and check how lenders set margins over Euribor.
Mortgage rates fall to about 3.1–3.41%
Wednesday, 21 January 2026AI summary
Context & Explainers
The National Institute of Statistics (National Institute of Statistics (Instituto Nacional de Estatística, INE) is Portugal’s official body for collecting and publishing data on population, economy and travel; it reported that trips by residents abroad rose 21.9% year-on-year to 975,000 in Q2 2025. Expats can use INE data for planning travel, business decisions or understanding tourism trends in Portugal via its website and published bulletins.
Euribor (Euro Interbank Offered Rate) is the benchmark interest rate at which European banks lend to one another and is widely used as the reference for variable‑rate mortgages in Portugal. Changes affect monthly payments directly: the recent figures reported were 2.034% (3‑month), 2.104% (6‑month) and 2.255% (12‑month), so a rising Euribor typically increases costs for borrowers with tracker or variable loans.
