The Euribor rates increased today across all terms compared to Monday, following a recent low not seen since October 2022.
With today’s changes, the three-month rate rose to 1.948%, remaining below the six-month (2.019%) and 12-month (2.049%) rates.
The six-month Euribor, which became the most used rate in Portugal for variable-rate housing loans in January 2024, increased today to 2.019%, up by 0.003 points from Monday.
Data from the Bank of Portugal (BdP) from April show that the six-month Euribor accounted for 37.61% of the outstanding variable-rate mortgage loans for primary residence.
The same data indicate that the 12-month and three-month Euribor represented 32.46% and 25.60%, respectively.
The three-month Euribor, below 2% since June 24, rose today to 1.948%, up by 0.004 points from Monday.
Similarly, the 12-month Euribor increased to 2.049%, up by 0.005 points from Monday.
During the last monetary policy meeting on June 4 and 5, held in Frankfurt, the European Central Bank (ECB) reduced 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 cutting cycle in June 2024 and, according to analysts, is expected to be the last for 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 rates at which a group of 19 Eurozone banks are willing to lend money to each other in the interbank market.
MES (MPE) // CSJ
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