The latest adjustments have placed the three-month Euribor rate at 2.060%, below both the six-month rate at 2.121% and the 12-month rate at 2.095%.
As of January 2024, the six-month Euribor has emerged as the most utilized rate for variable-rate housing loans in Portugal. It increased slightly today to 2.121%, a rise of 0.001 percentage points.
According to data from the Bank of Portugal (BdP) for March, the six-month Euribor accounted for 37.65% of the outstanding housing loans for permanent residence with variable rates.
The same data indicated that the 12-month and three-month Euribor rates represented 32.39% and 25.67%, respectively.
The 12-month Euribor also saw an increase, settling at 2.095%, 0.001 percentage points higher than on Monday.
Conversely, the three-month Euribor, which has remained below 2.5% since March 14, decreased today to 2.060%, down by 0.015 percentage points, marking a new low since December 16, 2022.
In April, the monthly averages for Euribor fell significantly across all three terms, with the decline being most pronounced in the 12-month term. The average for three, six, and 12 months decreased by 0.193 points to 2.249%, 0.183 points to 2.202%, and 0.255 points to 2.143%, respectively.
On April 17, during the last monetary policy meeting, the European Central Bank (ECB) lowered the benchmark rate by a quarter of a point to 2.25%.
This reduction, anticipated by markets, marks the seventh since the ECB commenced this series 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 activity of 19 Eurozone banks willing to lend money to each other on the interbank market.
