The three-month Euribor rate, which rose to 2.041%, remained below the six-month and 12-month rates, which stood at 2.087% and 2.114%, respectively, following today’s changes.
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans as of January 2024, increased today, reaching 2.087%, a rise of 0.015 points from Friday.
According to data from the Banco de Portugal (BdP) for May, the six-month Euribor represented 37.75% of the stock of loans for permanent home ownership with a variable rate.
The same data indicated that the 12-month and three-month Euribor accounted for 32.32% and 25.57%, respectively.
In the 12-month term, the Euribor rate also increased, set at 2.114%, up by 0.25 points.
Similarly, the three-month Euribor rose again today, reaching 2.041%, an increase of 0.015 points over the previous session.
The monthly averages for Euribor fell again in June across the shorter terms, with less intensity than in previous months and more sharply in the shortest term (three months).
The 12-month Euribor monthly average remained at 2.081%.
The average Euribor in June dropped 0.103 points to 1.984% for three months and 0.066 points to 2.050% for six months.
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, with the main refinancing rate falling to 2%.
This reduction was the eighth since the ECB began this cycle of cuts in June 2024, and analysts forecast it 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 set by the average rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
