Euribor rates experienced alterations, with the three-month rate decreasing to 2.017%, remaining below the six-month (2.079%) and 12-month (2.204%) rates.
The six-month Euribor rate, the primary reference for variable-rate housing loans in Portugal since January 2024, declined to 2.079%, a 0.017 percentage point drop from Tuesday.
Banco de Portugal data from July reveals that the six-month Euribor accounted for 37.96% of the stock of home loans for permanent residence with variable rates.
The same data shows that the 12-month and three-month Euribor rates represented 32.09% and 25.51%, respectively.
Conversely, the 12-month Euribor rate increased to 2.204%, 0.011 percentage points higher than the previous session.
The three-month Euribor decreased to 2.017%, down 0.015 percentage points from Tuesday.
In September, monthly averages for the Euribor rose across all three durations, with the most significant increase seen in the 12-month rate.
The three-month Euribor average increased by 0.006 percentage points to 2.027%, and the six-month by 0.018 points to 2.102% in September.
The 12-month Euribor average saw a more pronounced increase in September, rising 0.058 points to 2.172%.
On September 11, the European Central Bank (ECB) held its key rates steady for the second consecutive monetary policy meeting, in line with market expectations, following eight rate cuts since the cycle began in June 2024.
The ECB’s next monetary policy meeting is scheduled for October 29 and 30 in Florence, Italy.
Euribor rates are based on the average interest rates at which 19 eurozone banks offer to lend money to each other in the interbank market.
