Current adjustments have placed the three-month Euribor rate at 1.993%, remaining below the six-month rate at 2.036% and the 12-month rate at 2.084%.
The six-month Euribor rate, now the most common reference for variable-rate housing loans in Portugal as of January 2024, decreased today to 2.036%, down by 0.005 percentage points.
Data from the Bank of Portugal (BdP) indicate that in April, the six-month Euribor accounted for 37.61% of the stock of loans for permanent home ownership with a variable rate.
The same data shows that the 12-month and three-month Euribor accounted for 32.46% and 25.60%, respectively.
Over a 12-month period, the Euribor rate also decreased, settling at 2.084%, which is 0.026 percentage points lower than on Tuesday.
Similarly, the three-month Euribor rate, which remained below 2% between May 30 and June 12, decreased today to 1.993%, 0.004 percentage points lower than Tuesday, marking its second consecutive session below 2%.
In May, average monthly Euribor rates fell across all three terms, albeit less drastically than in previous months, with the sharpest drop seen in the shortest term (three months).
The average Euribor in May fell by 0.162 percentage points to 2.087% for three months, by 0.086 points to 2.116% for six months, and by 0.062 points to 2.081% for 12 months.
During the most recent monetary policy meeting on June 4-5 in Frankfurt, the European Central Bank (ECB) reduced interest rates by 0.25 basis points, bringing the main rate down to 2%.
This cut marked the eighth since the ECB began this series of reductions in June 2024, and analysts suggest it may be the last for the year.
The next ECB monetary policy meeting is scheduled for July 23-24 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 in the interbank market.
