The European Central Bank decided to raise Eurozone interest rates to 2.5%, in a decision taken for the second time this year. This increase in interest rates has been having a significant impact on the economy and finances of European citizens.
The decision directly affects Portuguese citizens at various levels, with the mortgage lending sector being one of the most penalized. With the rise in rates, costs associated with bank loans increase, which translates into higher monthly repayments for those who have or intend to take out a mortgage to purchase a home.
The impact on Portuguese pockets is therefore significant, since the rise in interest rates is directly reflected in the value of loan repayments. This situation affects both those who already have a mortgage and those planning to purchase property in the future, making access to credit more costly.




