The Euribor rate decreased today for three and 12 months while increasing for six months compared to Monday.
Following today’s changes, the three-month rate, which fell to 2.021%, remained below the six-month (2.106%) and 12-month (2.182%) rates.
The six-month Euribor, which became the most used in Portugal for variable-rate housing loans as of January 2024, rose today to 2.106%, up by 0.003 points from Monday.
Data from the Bank of Portugal (BdP) for August indicate that the six-month Euribor accounted for 38.13% of the stock of loans for owner-occupied housing with a variable rate.
The same data show that the 12-month and three-month Euribor accounted for 31.95% and 25.45%, respectively.
For a 12-month term, the Euribor rate decreased, set at 2.182%, down 0.019 points from the previous session.
The three-month Euribor fell to 2.021%, down 0.005 points from Monday.
In September, the monthly averages of the Euribor rates rose again across the three terms, with a sharper increase observed for 12 months.
The average Euribor in September rose 0.006 points to 2.027% for three months and 0.018 points to 2.102% for six months.
At 12 months, the Euribor average increased more significantly in September, specifically by 0.058 points to 2.172%.
On September 11, the European Central Bank (ECB) maintained its key rates for the second consecutive monetary policy meeting, as anticipated by the markets, following eight reductions since the entity initiated this cycle of cuts in June 2024.
The next ECB monetary policy meeting is scheduled for October 29 and 30 in Florence, Italy.
Euribor rates are set by the average interest rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
