The Euribor rates saw an increase today across all tenors compared to Monday, following a recent decline to the lowest point since October 2022.
In today’s changes, the three-month rate rose to 1.948% but remained below the six-month (2.019%) and 12-month rates (2.049%).
The six-month Euribor rate, which in January 2024 became the most commonly used in Portugal for variable-rate housing loans, climbed today to 2.019%, up by 0.003 percentage points from Monday.
According to April data from the Bank of Portugal (BdP), the six-month Euribor represented 37.61% of the mortgage stock for primary residences with variable rates.
The same data showed that the 12-month and three-month Euribor rates accounted for 32.46% and 25.60%, respectively.
The three-month Euribor, which has been below 2% since June 24, increased today to 1.948%, up by 0.004 percentage points from Monday.
Similarly, the 12-month Euribor rose to 2.049%, up by 0.005 percentage points from Monday.
At the 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 main refinancing rate down to 2%.
This reduction marked the eighth since the ECB began this rate-cutting cycle in June 2024 and is expected by analysts to be the last this year.
The next ECB monetary policy meeting is scheduled for July 23 and 24 in Frankfurt.
The Euribor rates are calculated based on the average interest rates at which a group of 19 eurozone banks are willing to lend to one another in the interbank market.
MES (MPE) // CSJ
Lusa/Fim
