In June 2022
Implicit interest rate on housing credit and loan repayments increased in the Autonomous Region of Madeira
According to information made available by Statistics Portugal (INE), in June 2022, the implicit interest rate on housing credit in the Autonomous Region of Madeira was 0.816%, increasing by 0.034 percentage points (pp) from the previous month. In June 2021, the implicit interest rate was 0.713%.
The average value of loan repayments for all housing credit contracts rose to 274 euros in the month of reference, with the interest set at 41 euros (up by 2 euros from the previous month) and the capital amortisation at 233 euros (the same value as in the last month). In June 2021, a month in which the moratorium on mortgage payments was in place, the average value of loan repayments was just 239 euros.
In turn, the average outstanding loan value for housing credit contracts rose to 60,532 euros (60,281 euros in May 2022). A year earlier it stood at 58,199 euros.
In Portugal, and all housing credit contracts, the implicit interest rate rose to 0.858%, up by 0.032 pp over the previous month. The average value of loan repayments increased by 261 euros. The average outstanding loan value grew from 59,614 euros, in May 2022, to 60,061 euros, in June 2022.
