In September 2021

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

In September 2021, the implicit interest rate on housing credit in the Autonomous Region of Madeira was 0.695%, decreasing by 0.004 percentage points (pp) from the previous month. In September 2020, the implicit interest rate was 0.862%.

The average value of loan repayments for all housing credit contracts rose to €239 in the month of reference, with the interest set at €34 (same value as in the last month) and the capital amortisation at €205 (up by 1€ from the last month). In September 2020, the average value of loan repayments was €229.

In turn, the average outstanding loan value for housing credit contracts rose to €59,193 (€59,095 in the previous month). A year earlier it stood at €57,792, thus continuing the upward trend since March 2019.

In Portugal, and in all housing credit contracts, the implicit interest rate fell to 0.785% (down by 0.007 pp over the previous month), while the average value of loan repayments increased to €237. Portugal's average outstanding loan value increased from €57,115 in August 2021 to €57,334 in September 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 housing loans. The moratorium grants households the possibility to suspend the payment of the monthly loan repayment with the housing credit for a period of six months. The various banking institutions offer flexible regimes, regarding the period and repayment (interest and capital amortisation). These measures result in a reduction in the loan repayment, due to the suspension of the interest payments, capital amortisation, or both, which accounts for the differences when comparing data year-on-year.

Back

• Prev
• Next