Portugal mortgage payments rise despite ECB rate pause

While the European Central Bank kept interest rates unchanged following its 29 October meeting, average monthly mortgage repayments in Portugal reached 450 euros in September. This represents a 4-euro monthly increase and the 13th consecutive monthly rise, driven by Euribor fluctuations affecting variable-rate contracts and higher costs for new loans. The average interest rate on new housing loans reached 3.06% in September.