Mortgage lending soars to historic highs in October
New consumer credit operations reached an unprecedented value in October. According to data from the Bank of Portugal released this Wednesday, banks financed €2.16 billion for home purchases in the tenth month of the year. Young people continue to drive the granting of housing finance, accounting for over 60% of new loans.
Mortgage lending accelerates in October to the highest rate since 2008
Mortgage lending saw a historic acceleration in October. In that month, resident banks lent nearly one billion euros for home purchases, with the rate accelerating for the 22nd consecutive month, reaching the highest level since the subprime financial crisis. The latest statistics from the Bank of Portugal revealed this trend.
