18-03-2022 - In February 2022, the implicit interest rate on housing credit and loan repayments decreased in the Autonomous Region of Madeira

In February 2022

Implicit interest rate on housing credit and loan repayments decreased in the Autonomous Region of Madeira

In February 2022, the implicit interest rate on housing credit in the Autonomous Region of Madeira was 0.749%, decreasing by 0.009 percentage points (pp) from the previous month. In February 2021, the implicit interest rate was 0.747%.

The average value of loan repayments for all housing credit contracts declined to 267 euros in the month of reference, with the interest set at 37 euros (down by 1 euro from the previous month) and the capital amortisation at 230 euros (the same value as in the last month). In February 2021, the average value of loan repayments was just 228 euros.

In turn, the average outstanding loan value for housing credit contracts went down to 59,709 euros (59,721 euros in January 2022). A year earlier it stood at 58,269 euros.

In Portugal, and in all housing credit contracts, the implicit interest rate fell to 0.793%, down by 0.005 pp over the previous month. The average value of loan repayments increased by 255 euros. The average outstanding loan value grew from 58,557 euros, in January 2022, to 58,749 euros, in February 2022.

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