With today’s changes, the three-month Euribor rate, which fell to 2.143%, is positioned below the six-month rate (also 2.145%) and above the twelve-month rate (2.045%).
The six-month Euribor, which became the most commonly used index in Portugal for variable-rate housing loans starting January 2024, decreased today to 2.145%, down by 0.006 points.
Data from Banco de Portugal (BdP) for February shows that the six-month Euribor accounted for 37.52% of the stock of loans for permanent homeownership with variable rates.
The same data indicates that the twelve-month and three-month Euribor represented 32.50% and 25.72%, respectively.
Conversely, over a twelve-month period, the Euribor rate increased to 2.045%, which is 0.006 points higher than on Monday.
The three-month Euribor, which has been below 2.5% since last March 14, fell today to 2.143%, down by 0.008 points.
In April, the monthly averages of the Euribor rates experienced a strong decline across all three terms, particularly more intense than in previous months, especially in the longer term (twelve months).
The average Euribor for three, six, and twelve months in April fell by 0.193 points to 2.249% for three months, 0.183 points to 2.202% for six months, and 0.255 points to 2.143% for twelve months.
On April 17, during the latest monetary policy meeting, the European Central Bank (ECB) reduced the benchmark rate by a quarter of a point to 2.25%.
This decrease, anticipated by the markets, was the seventh since the ECB began this cycle of cuts in June 2024.
The next ECB monetary policy meeting is scheduled for June 5 and 6 in Frankfurt.
The Euribor rates are determined by the average of the rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
