Today’s changes see the three-month Euribor rate, which dropped to 1.937%, remain below the six-month (2.031%) and 12-month (2.062%) rates.
The six-month Euribor rate, which became the most widely used in Portugal for variable-rate home loans as of January 2024, fell today, set at 2.031%, 0.002 points lower than on Wednesday.
Data from the Bank of Portugal (BdP) for April indicate that the six-month Euribor accounted for 37.61% of the outstanding stock of loans for permanent home purchases with variable rates.
The same data show that the 12-month and three-month Euribor rates represented 32.46% and 25.60%, respectively.
The three-month Euribor rate, below 2% since June 24, fell today to 1.937%, down 0.019 points from Wednesday.
In contrast, the 12-month Euribor rose to 2.062%, up 0.007 points from Wednesday.
At the latest monetary policy meeting on June 4 and 5 in Frankfurt, the European Central Bank (ECB) cut interest rates by 0.25 basis points, lowering the main policy rate to 2%.
This reduction was the eighth since the ECB began this cycle of cuts in June 2024, and according to analysts, it is expected to be the last this year.
The next ECB monetary policy meeting is scheduled for July 23 and 24 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 on the interbank market.
