The three-month Euribor rate has increased to 2.029%, remaining below the six-month rate at 2.085% and the 12-month rate at 2.132% following recent adjustments.
The six-month Euribor rate, now the most commonly used in Portugal for variable-rate home loans since January 2024, rose to 2.085%, marking an increase of 0.002 points from the previous Friday.
According to data from the Bank of Portugal (BdP) for June, the six-month Euribor accounted for 37.74% of the outstanding loans for permanent housing with variable rates.
The same data shows that the 12-month and three-month Euribor rates accounted for 32.28% and 25.58%, respectively.
The 12-month Euribor rate also increased, reaching 2.132%, up 0.011 points.
Similarly, the three-month Euribor rose to 2.029%, up 0.010 points from Friday, surpassing 2% for the third consecutive session.
In the most recent monetary policy meeting on July 24, the European Central Bank (ECB) maintained the key interest rates, as expected by the markets, following eight reductions since this cycle of cuts began in June 2024.
Some analysts predict that the ECB will maintain these rates until at least the end of the year, while others anticipate a new cut of 25 basis points in September.
The upcoming ECB monetary policy meeting is scheduled to take place on September 10 and 11 in Frankfurt.
In July, the monthly average of the Euribor rates reversed the trend of recent months, showing a slight increase in the two shorter terms, with a more pronounced rise in the six-month period.
The average three-month Euribor rate increased by 0.002 points to 1.986%, and the six-month rate rose by 0.005 points to 2.055% in July.
The 12-month Euribor rate, after remaining stable in June, slightly decreased by 0.002 points to 2.079% in July.
The Euribor rates are determined by the average of the rates at which 19 eurozone banks are willing to lend money to each other in the interbank market.
