The Euribor rates have experienced changes today, with the three-month rate dropping to 1.995%, remaining below the six-month (2.049%) and 12-month (2.065%) rates.
The six-month Euribor rate, which became the most popular rate for variable-rate housing loans in Portugal as of January 2024, decreased today, being set at 2.049%, down 0.029 points from Thursday.
Data from the Bank of Portugal (BdP) for May indicates that the six-month Euribor accounted for 37.75% of the stock of variable-rate loans for permanent owner-occupied housing.
The same data shows that the 12-month and three-month Euribor rates accounted for 32.32% and 25.57%, respectively.
The 12-month Euribor rate also fell, being set at 2.065%, a decrease of 0.022 points.
In keeping with this trend, the three-month Euribor decreased today to 1.995%, a drop of 0.029 points from the previous session, after six consecutive sessions above 2%.
Monthly averages for the Euribor declined again in June for the two shorter terms, albeit less sharply than in previous months, with a more pronounced drop for the three-month rate.
Meanwhile, the 12-month Euribor monthly average remained at 2.081%.
In June, the three-month Euribor average fell by 0.103 points to 1.984%, and the six-month Euribor average decreased by 0.066 points to 2.050%.
During its latest 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 key rate down to 2%.
This reduction marked the eighth one since the ECB began this cycle of cuts in June 2024 and, according to analysts, 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 rates at which a group of 19 eurozone banks are willing to lend money to each other on the interbank market.
