The three-month Euribor rate, which decreased to 2.065%, remained below the six-month (2.099%) and 12-month (2.156%) rates following today’s changes.
The six-month Euribor rate, which became the most commonly used for variable-rate mortgages in Portugal as of January 2024, remained unchanged from Wednesday, being fixed at 2.099%, 0.011 points less than on Tuesday.
Data from Banco de Portugal (BdP) for August indicate that the six-month Euribor accounted for 38.13% of the stock of loans for permanent homeownership with variable rate.
These figures also show that the 12-month and three-month Euribor accounted for 31.95% and 25.45%, respectively.
For the 12-month term, the Euribor rate also remained unchanged from the previous day at 2.156%, 0.001 points less than on Tuesday’s session.
The three-month Euribor, however, decreased to 2.065%, 0.001 points less than on Wednesday.
In September, the monthly averages for Euribor increased again across the three terms, with the 12-month rate seeing the most significant rise.
The September average for the three-month Euribor increased by 0.006 points to 2.027%, and the six-month average rose by 0.018 points to 2.102%.
For the 12-month term, the Euribor average increased more sharply in September, notably 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 markets, following eight reductions since the entity began this cycle of cuts in June 2024.
The ECB’s next 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 money to each other in the interbank market.
