Portugal mortgage rates · monthly update
The average rate on new housing loans in Portugal reached 3.00% in August 2026, its fifth monthly rise in a row. Here are the latest figures from the Banco de Portugal and the money markets, and what they mean if you are buying a home.
3.00%
Average rate on new housing loans in Portugal (August 2026)
2.86%
Average mixed rate, used for 87% of new loans
3.18%
12-month Euribor (12 October 2026)
2.50%
ECB deposit rate since 16 September 2026
| Indicator | Latest value | Date | Source |
|---|---|---|---|
| Average rate, new housing loans | 3.00% | August 2026 | Banco de Portugal |
| Average mixed rate | 2.86% (87% of new loans) | August 2026 | Banco de Portugal |
| Average variable rate | 3.23% | August 2026 | Banco de Portugal |
| Euro area average, new housing loans | 3.6% | August 2026 | ECB, via Banco de Portugal |
| Euribor 3 months | 2.632% | 12 October 2026 | EMMI |
| Euribor 6 months | 2.892% | 12 October 2026 | EMMI |
| Euribor 12 months | 3.177% | 12 October 2026 | EMMI |
| ECB deposit facility rate | 2.50% | since 16 September 2026 | European Central Bank |
These are market averages published by official sources. They are not an offer: the rate a bank offers you depends on your profile, the loan-to-value, the term and the products you take. Always compare the APR (TAEG) and the total cost of the loan (MTIC) shown in the FINE.
After a series of cuts in 2025, the European Central Bank raised its rates twice in 2026: in June, then again in September, taking the deposit rate to 2.50% to curb inflation. Euribor, the benchmark for most Portuguese mortgages, has followed: the 12-month Euribor is now close to 3.2%.
The average rate on new housing loans in Portugal rose for the fifth month in a row in August 2026, to 3.00%, its highest level since April 2025. Portugal nevertheless remains one of the cheapest countries in the euro area, with the fourth-lowest average rate, against 3.6% for the euro area as a whole.
The next ECB monetary policy decision is due on 29 October 2026. We will update this page after each decision.
The average rate on new housing loans was 3.00% in August 2026, according to the Banco de Portugal: 2.86% on average for mixed rates and 3.23% for variable rates.
Most new loans (87%) use a mixed rate: fixed for an initial period, then variable, based on Euribor plus a spread. Full-term fixed rates exist but are less common.
Non-residents can get a mortgage in Portugal, usually with a larger down payment. Their spread depends on the bank and on their file, so the rate obtained can differ from the national average. See mortgages for non-residents and our guide for US citizens.
Every month, after the Banco de Portugal publishes its interest rate statistics, and after each ECB decision.
Sources: Banco de Portugal, interest rates on new loans, August 2026 · European Central Bank, key interest rates · EMMI, Euribor rates. SpreadHunters is a credit intermediary registered with the Banco de Portugal (no. 0006447). This page is for information only and is not a credit offer.
We compare offers from several Portuguese banks on the total cost of the loan, for residents and non-residents. Free for you: we are paid by the partner bank.
