The Euribor rate increased today for both the three and six-month terms, while it decreased for the 12-month term compared to Friday.
Following today’s adjustments, the three-month rate rose to 2.026%, staying below the six-month (2.103%) and 12-month (2.201%) rates.
The six-month Euribor rate, which has become the most commonly used in Portugal for variable-rate housing loans as of January 2024, increased today, reaching 2.103%, up by 0.004 points from Friday.
According to August data from the Bank of Portugal (BdP), the six-month Euribor accounted for 38.13% of the stock of loans for permanent own housing with variable rates.
The same data shows that the 12-month and three-month Euribors represented 31.95% and 25.45%, respectively.
For the 12-month term, the Euribor rate dropped, standing at 2.201%, a decrease of 0.001 points from the previous session.
The three-month Euribor rose to 2.026%, an increase of 0.017 points from Friday.
In September, the monthly average Euribor rates increased across all three terms, with a more pronounced rise in the 12-month term.
The September average for the three-month Euribor rose by 0.006 points to 2.027%, and the six-month rate increased by 0.018 points to 2.102%.
Additionally, the 12-month Euribor saw a more significant rise in September, specifically by 0.058 points to 2.172%.
On September 11, the European Central Bank (ECB) maintained its key interest rates for the second consecutive monetary policy meeting, as anticipated by the markets, following eight reductions since the entity began this cycle of cuts in June 2024.
The next ECB monetary policy meeting is scheduled for October 29-30 in Florence, Italy.
The Euribor rates are determined by the average rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
