Current changes have left the three-month Euribor rate at 2.084%, remaining below the six-month (2.124%) and 12-month (2.175%) rates.
The six-month Euribor rate, which switched in January 2024 to become the most used in Portugal for variable rate housing loans, rose today, being set at 2.124%, an increase of 0.020 points from Friday.
Data from the Bank of Portugal for August indicate that the six-month Euribor accounted for 38.13% of the stock of loans for permanent own housing with a variable rate.
The same figures reveal that the 12-month and three-month Euribor represented 31.95% and 25.45%, respectively.
In the 12-month term, the Euribor rate also rose, being set at 2.175%, an increase of 0.016 points from the previous session.
Similarly, the three-month Euribor increased to 2.084%, up 0.012 points from Friday.
The next European Central Bank (ECB) monetary policy meeting is scheduled for October 29-30 in Florence, Italy, with investors anticipating another hold on key interest rates.
In the previous meeting on September 11, the ECB maintained its key rates for the second consecutive monetary policy session, as expected by the markets, following eight cuts since the cycle began in June 2024.
In September, the monthly averages of the Euribor rates rose across all three terms, with a more pronounced increase at 12 months.
The September average for the three-month Euribor rose by 0.006 points to 2.027%, and the six-month by 0.018 points to 2.102%.
Meanwhile, the 12-month Euribor average increased more significantly in September, notably by 0.058 points to 2.172%.
The Euribor rates are determined by the average interest rates at which a panel of 19 eurozone banks are willing to lend to one another in the interbank market.
