The six-month and 12-month Euribor rates fell today, while the three-month rate increased by 0.006 points compared to Monday, still remaining below the longer durations.
The six-month Euribor rate, which became the most commonly used in Portugal for variable-rate housing loans in January last year, decreased by 0.002 points from Monday (2.111%) to 2.109% today.
The three-month rate increased by 0.006 points from Monday to reach 2.034%, yet it remains below the six and 12-month Euribor rates.
The 12-month Euribor rate also registered a decline today, dropping 0.003 points to 2.081%. On Monday, this rate was set at 2.084%.
Data from the Bank of Portugal (BdP) for June show that the six-month Euribor represented 37.74% of the stock of loans for permanent own housing with a variable rate.
The same data indicate that the 12-month and three-month Euribor accounted for 32.28% and 25.58%, respectively.
At the last monetary policy meeting on July 24, the European Central Bank (ECB) maintained its key interest rates, as anticipated by the markets after eight consecutive cuts since commencing this cycle of reductions in June 2024.
While some analysts predict that the key rates will remain unchanged at least until the end of the year, others foresee a new reduction of 25 basis points in September.
The ECB’s next monetary policy meeting is scheduled for September 10 and 11 in Frankfurt.
