The Euribor rate fell today over six months compared to Thursday, marking a new low since October 13, 2022, while the three-month and twelve-month rates increased.
Today’s changes placed the three-month rate at 1.979%, remaining below the six-month (2.026%) and twelve-month (2.066%) rates.
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans in January 2024, dropped today to 2.026%, down 0.005 points from Thursday.
Data from the Bank of Portugal (BdP) for April shows that the six-month Euribor accounted for 37.61% of the stock of loans for permanent own housing with variable rates.
The same data indicates that the twelve-month and three-month Euribor rates accounted for 32.46% and 25.60%, respectively.
For the three-month period, the Euribor rate, which has been below 2% since June 24, rose today to 1.979%, an increase of 0.042 points from Thursday.
Similarly, the twelve-month Euribor increased to 2.066%, up 0.004 points from Thursday.
During the last monetary policy meeting on June 4 and 5 in Frankfurt, the European Central Bank (ECB) lowered interest rates by 0.25 basis points, bringing the main policy rate down 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 final cut of the 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 panel of 19 eurozone banks are willing to lend money to each other in the interbank market.
