In November 2023

Average value of loan payments in housing loans rose to 407 euros

In November 2023, according to information provided by Statistics Portugal (INE), the implicit interest rate on housing loan agreements in the Autonomous Region of Madeira (ARM) stood at 4.646%, showing an increase of 0.091 percentage points (pp) compared to the previous month. It is noteworthy that in November 2022, the implicit interest rate on housing loan agreements was only 1.591%.

The average value of loan payments for all housing loan contracts increased by 3 euros compared to the previous month, reaching 407 euros. The interest amounted to 241 euros (an increase of 5 euros from the previous month), while the amortisation was 166 euros (a decrease of 2 euros from the previous month). In the same month last year, the average value of overdue payments was 301 euros.

In turn, the average outstanding amount for housing loan contracts increased, reaching 63,369 euros this month (compared to 63,130 euros in October 2023). A year earlier, it was 61,718 euros.

At the national level, considering all housing loan contracts, the implicit interest rate rose to 4.524%, an increase of 0.091 pp compared to the previous month. The average value of loan repayments for all contracts increased to 396 euros, with the average outstanding loan growing to 64,438 euros (compared to 64,186 euros in the previous month). In the country, interest rates increased by 6 euros compared to the previous month, while the amortised capital decreased by 2 euros.

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