The average interest rate on fixed mortgage loans with a maturity of up to five years fell to its lowest level in nine years in Greece in February 2026, according to data from the European Central Bank (ECB). Specifically, it stood at 2.95% from 3.13% in January, breaking the 3% barrier for the first time since early 2017, when ECB lending rates were zero (currently 2.15%).
Indeed, as the same data shows, Greece is the fifth cheapest country in the eurozone in this loan category, a category which is one of the most popular choices for mortgage borrowers in the current period.
European Central Bank data shows average mortgage rates fixed for up to five years in the eurozone at 3.37%, with Greece among the top five cheapest countries. The top five is made up of Malta at 1.71%, Portugal at 2.72%, Bulgaria at 2.90%, Croatia at 2.92% and Greece at 2.95%.
On the flip side, the most expensive countries in this loan category include Latvia at 8.41%, Estonia at 6.34%, Lithuania at 5.94%, the Netherlands at 3.73% and Belgium at 3.73%. In the three largest eurozone economies, the average fixed interest rate on mortgages up to five years was 3.63% in Germany, 3.53% in Italy and 3.31% in France in February 2026.
Housing credit in Greece, after several years of negative net flows, moved into positive territory as of October 2025 and according to the latest available data from the Bank of Greece, the 12-month change in housing loans in February 2026 was +1.1%.
Moreover, according to converging bank estimates, the average mortgage loan size in Greece exceeds 100.000 euros, while of particular interest is the high approval rate for mortgage applications, which in recent months has exceeded 85% and reached 90%. A development that reflects both the improvement in the quality of applications and a more mature and conscious approach of borrowers towards mortgage credit.
