The Euribor rate increased today for three, six, and 12 months compared to Friday, surpassing 2% across all maturities.
With today’s changes, the three-month rate increased to 2.016%, remaining below the six-month (2.101%) and 12-month (2.131%) rates.
The six-month Euribor, which in January 2024 became the most used in Portugal for variable-rate housing loans, advanced today, being set at 2.101%, an increase of 0.048 points from Friday.
Data from the Bank of Portugal (BdP) for May indicate that the six-month Euribor represented 37.75% of the outstanding stock of variable-rate home loans.
The same data show that the 12-month and three-month Euribor accounted for 32.32% and 25.57%, respectively.
For the 12-month term, the Euribor rate also rose, being fixed at 2.131%, an increase of 0.073 points.
Similarly, the three-month Euribor increased today to 2.016%, up by 0.045 points from the previous session after six sessions below 2%.
On Thursday, the European Central Bank (ECB) maintained the key interest rates, as anticipated by the markets, following eight reductions since the entity began this cycle of cuts in June 2024.
Analysts expect the key rates to remain unchanged at least until the end of this year.
The next ECB monetary policy meeting is scheduled for September 10 and 11 in Frankfurt.
The monthly averages of the Euribor fell again in June for the two shorter terms, less intensely than in previous months, with a more pronounced decrease at three months.
At 12 months, the Euribor monthly average remained at 2.081%.
The June average for the Euribor decreased by 0.103 points to 1.984% for three months and by 0.066 points to 2.050% for six months.
The Euribor rates are determined by the average of rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
