In November 2024

Implicit interest rate on housing loans in the Autonomous Region of Madeira continued its downward trend

According to information provided by Statistics Portugal (INE), in November 2024, the implicit interest rate for all housing loan agreements in the Autonomous Region of Madeira stood at 4.322%, representing a decrease of 0.089 percentage points (pp) compared to the previous month. This represents the tenth consecutive reduction in this indicator. It should also be noted that, in November 2023, the implicit interest rate on housing loans was 4.646%.

The average value of loan repayments for all housing loan agreements increased by 2 euros from the previous month, reaching 417 euros. Of this amount, interest amounted to 235 euros (down by 4 euros over the previous month) while amortisation accounted for 182 euros (up by 6 euros over the previous month). In the same month last year, the average value of loan repayments was 407 euros.

Furthermore, the average outstanding amount for housing loan agreements increased for the 19^th consecutive month, standing at 66,363 euros in November 2024 (compared to 66,091 euros in October 2024). A year earlier, this amount was 63,369 euros.

At the national level, and considering all housing loan agreements, the implicit interest rate decreased to 4.186%, down by 0.091 pp over the previous month. The average value of loan repayments for all agreements decreased to 403 euros, while the average outstanding amount increased to 68,129 euros (compared to 67,692 euros in the previous month). In the country, interest rates decreased by 3 euros compared to the previous month, settling at 234 euros, whereas amortisation increased by 2 euros, reaching 169 euros. 

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