Every month we ask Housfy Hipotecas mortgage brokers what the lowest interest rate they have processed has been. In May 2024, the best fixed and mixed mortgages are these.
The most competitive fixed mortgage has been the 2.30% NIR for 30 years. This would mean around €557.96 per month for an average loan (APR 3.204%). See the representative example in the box below.
The best interest rate for a fixed mortgage has decreased by 0.10% since the previous month, as reported by Housfy mortgage brokers. It is still more than 1 percentage point below the average interest rate for fixed mortgages in the market, which, according to the INE, was 3.57% TIN in February.
The mixed mortgage has fallen by 0.30% percentage points, which makes it one of the most interesting options right now for those who trust in future drops in the Euribor in the medium term or for those who want to repay the mortgage ahead of time.
The best mixed mortgage that Housfy Hipotecas has processed this month of May offers 3 fixed years at 1.30% TIN and the rest of the variable period at Euribor 0.35% TIN. For the representative example below, APR 4.604%.
This type of mortgage has decreased by 0.30 points compared to the previous month, when the best was 1.60% three-year fixed TIN and then Euribor 0.55%.
After two years of uncertainty, all the factors have begun to converge towards the same point. Inflation remains stable at 3%, far from the peak of 10.8% that it reached in 2022. The Euribor is adjusting to around 3.7%, after reaching its peak above 4% a few months ago . Market interest rates will begin their de-escalation in June, if everything goes according to plan.
Buyers are eager to buy and the real estate market is seeing more movement since the beginning of 2024. If you are looking for your new home, the time to apply for a mortgage is now, before the market recovers 100% and you have much greater competition .
