In April 2024

Implicit interest rate on housing loans in the Autonomous Region of Madeira declined for the third consecutive month

In April 2024, the implicit interest rate for all housing loan agreements in the Autonomous Region of Madeira (ARM) decreased for the third consecutive month. According to data from Statistics Portugal (INE), the rate stood at 4.729%, a decrease of 0.008 percentage points (pp) from the previous month. This marks the third consecutive reduction after 22 months of consecutive increases. In April 2023, the implicit interest rate was significantly lower at 3.248%.

The average value of loan repayments for all housing loan agreements increased by 1 euro from the previous month to 417 euros, with interest payments stable at 250 euros and amortisation rising by 1 euro to 167 euros. Compared to the same month last year, the average value of loan repayments was 352 euros.

Additionally, the average outstanding amount for housing loan agreements increased for the 12^th consecutive month, reaching 64,622 euros in April 2024 (up from 64,490 euros in March 2024). A year earlier, the average was 61,752 euros.

Nationally, the implicit interest rate decreased to 4.606%, down 0.007 pp from the previous month. The average value of loan repayments for all agreements increased to 404 euros, with the average outstanding amount rising to 65,577 euros (from 65,391 euros the previous month). Interest payments remained unchanged at 247 euros, while amortisation increased to 157 euros.

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