Today’s adjustments saw the three-month Euribor rate increase slightly to 2.042%, remaining below the six-month (2.079%) and 12-month (2.108%) rates.
The six-month Euribor rate, which from January 2024 became the most utilized in variable-rate home loans in Portugal, decreased today, settling at 2.079%, 0.008 percentage points lower than Monday.
According to data from the Bank of Portugal (BdP) for May, the six-month Euribor accounted for 37.75% of the stock of loans for permanent owner-occupied housing with a variable rate.
The same data indicated that the 12-month and three-month Euribor rates accounted for 32.32% and 25.57%, respectively.
For the 12-month term, the Euribor rate also decreased, settling at 2.108%, a reduction of 0.006 percentage points.
Conversely, the three-month Euribor rose today to 2.042%, an increase of 0.001 percentage points from the previous session.
In June, the monthly averages of the Euribor fell again for the two shorter terms, less sharply than in previous months and more significantly for the shortest term (three months).
For 12 months, the Euribor monthly average remained at 2.081%.
The Euribor average in June decreased by 0.103 points to 1.984% for three months and 0.066 points to 2.050% for six months.
At the last monetary policy meeting on June 4 and 5 in Frankfurt, the European Central Bank (ECB) reduced interest rates by 0.25 basis points, lowering the main rate to 2%.
This reduction marked the eighth since the ECB initiated this cycle of cuts in June 2024 and, according to analysts, is expected 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 determined by the average of the rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
