In June 2021 

Implicit interest rate on housing credit in the Autonomous Region of Madeira remained unchanged compared to the previous month, while the loan repayments increased 

In June 2021, the implicit interest rate on housing credit in the Autonomous Region of Madeira was 0.710%, maintaining the same value as in the previous month. Note that in June 2020, the rate was 0.850%. 

The average value of loan repayments went up to €239 in the month of reference, with the interest component standing at €35 (same value as in the last month) and the capital amortisation at €204 (up by €3 from the previous month). In June 2020, the average value of loan repayments was 234 euros. 

In turn, the average outstanding loan value for housing credit contracts rose to €58,694 (€58,053 in the previous month). One year before it stood at €57,788. 

In Portugal, and in all housing credit contracts, the implicit interest rate fell to 0.811% (down by 0.009 pp over the previous month), while the average value of loan repayments increased to €235. The average outstanding loan value for Portugal increased from €56,011 in May 2021 to €56,462 in June 2021, thus maintaining a steady growth since March 2019. 

It should be noted that Decree-Law no. 10-J / 2020 establishes a moratorium regime on the responsibilities of households with mortgage loans. The moratorium grants households the possibility to suspend the payment of the monthly loan repayment for a period of six months. The various banking institutions offer flexible regimes, regarding term and repayment (interest and capital amortisation). These measures result in a reduction in the loan repayment, as a result of the suspension of the interest payment and capital amortisation or both, which accounts for the differences when comparing data year-on-year.

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