The Euribor rate remained steady today at three months and increased for six and twelve months compared to Friday.
With today’s changes, the three-month rate, set again at 1.994%, remains below the six-month (2.077%) and twelve-month (2.156%) rates.
The six-month Euribor, which became the most used in Portugal for variable-rate housing loans as of January 2024, increased today, being set at 2.077%, up by 0.007 points from Friday.
Data from the Bank of Portugal (BdP) for June indicate that the six-month Euribor represented 37.74% of the stock of loans for permanent own housing with a variable rate.
The same data indicate that the twelve-month and three-month Euribor accounted for 32.28% and 25.58%, respectively.
For twelve months, the Euribor rate advanced, being set at 2.156%, an increase of 0.009 points.
The three-month Euribor remained today at 1.994%, the same as the previous session.
At the last monetary policy meeting on July 24, the European Central Bank (ECB) maintained its key rates, as anticipated by the markets, following eight reductions since the entity started this cycle of cuts in June 2024.
While some analysts anticipate maintaining the key rates at least until the end of this year, others forecast a new cut of 25 basis points in September.
The next ECB monetary policy meeting is set for September 10 and 11 in Frankfurt.
In July, the monthly averages of the Euribor reversed the trend of recent months and rose slightly in the two shorter terms, more significantly over six months.
The average Euribor in July increased by 0.002 points to 1.986% over three months and by 0.005 points to 2.055% over six months.
For twelve months, after remaining steady in June, the average Euribor decreased slightly in July, specifically by 0.002 points to 2.079%.
The Euribor rates are set by the average of the rates at which a panel of 19 eurozone banks are willing to lend funds to each other in the interbank market.
