In October 2020
Implicit interest rate in housing credit in the Autonomous Region of Madeira decreased from the previous month while the loan repayments increased
In October 2020, the implicit interest rate in housing credit in the Region was 0.834%, decreasing by 0.028 percentage points (pp) from the previous month. It is the second lowest value of the series after May 2020 (0.829%). Please note that In October 2019, the rate was 0.990%.
The average value of loan repayments remained rose to €231 in the month of reference, with the interest component standing at €40 (down by €1 from the previous month) and the capital amortisation at €191 (up by €3 from in the previous month). In October 2019, the average value of loan repayments was 271 euros.
The average outstanding loan value in housing credit in the Autonomous Region of Madeira rose to €57,881 (€57,792 in the previous month). One year before it stood at €57,839.
In Portugal, the implicit interest rate in housing credit stood at 0.932% (down by 0.034 pp from the previous month), while the average value of loan increased to €227. The average outstanding loan value for Portugal rose from €54,484 in September 2020 to €54,645 in October 2020, thus maintaining a steady growth since March 2019.
