Greece mortgage rates rise to 3.72% in September 2026
The Bank of Greece reported the average rate on new floating-rate housing loans at 3.72% in September 2026, 33 basis points higher than in August.
The facts
- The Bank of Greece put the average interest rate on new floating-rate housing loans at 3.72% in September 2026, an increase of 33 basis points.
- Floating rate here means loans with an initial rate fixation of up to one year.
- On the existing stock, housing loans with over five years' maturity rose 4 basis points to 3.78%.
- The average rate on all new loans edged down to 4.76% from 4.79%, while the rate on outstanding loans rose 8 basis points to 4.92%.
- New deposit rates moved to 0.40% from 0.37%, and household time deposits with maturity up to one year rose 11 basis points to 1.28%.
- The interest-rate spread widened to 4.36 percentage points on new business and 4.53 percentage points on outstanding balances.
What it means for your money
- Borrowing just got dearer. A new floating-rate loan costs 33 basis points more than in August.
- The direction is against the borrower on both sides of the balance sheet: new loans up 33 basis points while new deposit rates added only 3, which is what a widening spread of 4.36 percentage points describes.
- Glopra's Greece data puts the national asking price at 3,221 USD per square metre and the national rent at 12.42 USD per square metre a month. Every basis point added to a floating loan is paid out of that rent before anything reaches the owner.
- For an owner already holding with a long-dated loan, the 4 basis point rise on balances over five years is small beside the 33 on new lending, so the cost is landing on buyers, not on existing borrowers.
What to watch
- The Bank of Greece publishes the October figures on 2 December 2026. A second consecutive rise on new housing loans would make 3.72% a level rather than a step.
- The release separates new business from outstanding balances; the fixed-rate housing figure sits in a table image and is not in the text.
- This is a Greek national series and is measured differently from the euro-area average.
Sources: Bank of Greece https://www.bankofgreece.gr/en/news-and-media/press-office/news-list/news?announcement=953920c7-9ae0-4f04-b73a-6d6e5516b9c9