With today’s changes, the three-month rate, which rose to 2.066%, remains below the six-month (2.099%) and 12-month (2.156%) rates.
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans in January 2024, decreased today to 2.019%, down by 0.011 points compared to Tuesday.
Data from the Bank of Portugal for August indicates that the six-month Euribor represented 38.13% of the stock of loans for permanent own housing with a variable rate.
The same data shows that the 12-month and three-month Euribor represented 31.95% and 25.45%, respectively.
Over the 12-month period, the Euribor rate also declined, set at 2.156%, 0.001 points lower than the previous session.
Conversely, the three-month Euribor increased to 2.066%, up 0.028 points from Tuesday.
In September, the monthly averages of the Euribor rose again across all three terms, more markedly over 12 months.
The average for the three-month Euribor in September rose 0.006 points to 2.027%, and the six-month rate increased by 0.018 points to 2.102%.
The 12-month Euribor saw a more significant increase in September, specifically 0.058 points to 2.172%.
On September 11, the European Central Bank (ECB) maintained the key interest rates for the second consecutive monetary policy meeting, as anticipated by the markets, following eight reductions since the entity started this cycle of cuts in June 2024.
The next ECB monetary policy meeting is scheduled for October 29 and 30 in Florence, Italy.
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.
