With today’s changes, the three-month rate, which rose to 2.015%, remained below the six-month (2.100%) and twelve-month (2.139%) rates.
The six-month Euribor rate, which became the most used in Portugal for variable-rate home loans in January 2024, decreased today, settled at 2.100%, 0.013 points less than on Friday.
Data from the Bank of Portugal (BdP) up to August indicates that the six-month Euribor accounted for 38.13% of the stock of loans for primary residential mortgages at variable rates.
The same data indicates that the twelve-month and three-month Euribor represented 31.95% and 25.45%, respectively.
Over a twelve-month period, the Euribor rate also fell, settling at 2.139%, 0.025 points less than the previous session.
Conversely, the three-month Euribor increased to 2.015%, up by 0.003 points from Friday.
In September, the monthly averages of Euribor rose again across all three terms, most notably over twelve months.
The average Euribor in September rose by 0.006 points to 2.027% for three months and by 0.018 points to 2.102% for six months.
For twelve months, the Euribor increased more significantly by 0.058 points to 2.172% in September.
On September 11, the European Central Bank (ECB) maintained reference rates for the second consecutive monetary policy meeting, as anticipated by the markets, following eight reductions since the beginning of this cycle of cuts in June 2024.
The next ECB monetary policy meeting is scheduled for October 29 and 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 to each other in the interbank market.
