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In August 2022

Implicit interest rate on housing credit and the average loan repayments increased in the Autonomous Region of Madeira

According to information made available by Statistics Portugal (INE), in August 2022, the implicit interest rate on housing credit in the Autonomous Region of Madeira was 0.961%, increasing by 0.091 percentage points (pp) from the previous month, growing for the 5th consecutive month. In August 2021, the implicit interest rate was 0.702%.

The average value of loan repayments for all housing credit contracts rose to 280 euros in the month of reference, with the interest set at 49 euros (up by 5 euros from the previous month) and the capital amortisation at 231 euros (down by 1 euro over the previous month). In August 2021, a month in which the moratorium on mortgage payments was in place, the average value of loan repayments was just 239 euros.  

In turn, the average outstanding loan value for housing credit contracts rose to 60,935 euros (60,663 euros in July 2022). A year earlier it stood at 58,728 euros. 

In Portugal, and all housing credit contracts, the implicit interest rate rose to 1.011%, up by 0.099 pp over the previous month. The average value of loan repayments increased to 268 euros, with the average outstanding loan value going up from 60,405 euros, in July 2022, to 60,750 euros, in August 2022.

 Credito a Habitacao EN

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