With today’s changes, the three-month Euribor rate decreased to 2.016%, remaining below the six-month (2.107%) and 12-month (2.154%) rates.
The six-month Euribor rate, which became the most used in Portugal for variable interest rate mortgages in January 2024, increased today to 2.107%, up 0.009 points from Thursday.
Data from the Bank of Portugal (BdP) regarding July indicates that the six-month Euribor accounted for 37.96% of the stock of loans for primary permanent housing with a variable rate.
The same data showed the 12-month and three-month Euribor represented 32.09% and 25.51%, respectively.
Conversely, the 12-month Euribor rate decreased to 2.154%, down 0.006 points.
The three-month Euribor also fell to 2.016%, a decrease of 0.013 points.
On September 11, the European Central Bank (ECB) maintained, for the second consecutive monetary policy meeting, its key rates, as anticipated by the markets following eight reductions since the onset of this rate-cutting cycle in June 2024.
The next ECB monetary policy meeting is scheduled for October 29-30 in Florence, Italy.
In August, monthly averages of the Euribor increased across all three terms, with the most significant rise in the three-month rate.
The average Euribor rate in August rose by 0.075 points to 2.021% for three months and by 0.029 points to 2.084% for six months.
The 12-month Euribor average increased by 0.035 points to 2.114% in August.
The Euribor rates are determined by the average interest rates at which a group of 19 eurozone banks is willing to lend money to each other in the interbank market.
