Following today’s changes, the three-month rate rose to 2.059%, but remained below the six-month (2.120%) and 12-month rates (2.209%).
The six-month Euribor, which has been the most commonly used rate in Portugal for variable interest home loans since January 2024, decreased today, settling at 2.120%, down by 0.003 points compared to last Friday.
Data from the Bank of Portugal (BdP) for September indicates that the six-month Euribor accounted for 38.3% of the stock of home loans with variable rates for permanent residence.
The same data shows that the 12-month and three-month Euribor represented 31.87% and 25.33%, respectively.
The 12-month Euribor rate also decreased, reaching 2.209%, down by 0.011 points.
Contrarily, the three-month Euribor rose today to 2.059%, an increase of 0.012 points from Friday.
Regarding the monthly average in October, the Euribor increased across all three terms, with the 12-month rate experiencing a more pronounced rise.
The three-month Euribor average rose by 0.007 points to 2.034%, while the six-month average increased by 0.005 points to 2.107%.
Meanwhile, the 12-month Euribor average saw a more significant jump in October, namely by 0.015 points to 2.187%.
On October 30, the European Central Bank (ECB) maintained its key interest rates for the third consecutive monetary policy meeting, as anticipated by the market, following eight rate reductions since the cycle began in June 2024.
At the conclusion of the October 30 meeting in Florence, ECB President Christine Lagarde stated that the ECB is well-positioned in terms of monetary policy but emphasized that this is not a fixed position.
The next ECB monetary policy meeting is scheduled for December 17-18 in Frankfurt.
The Euribor rates are determined by the average of the rates at which 19 banks from the eurozone are willing to lend money to each other in the interbank market.
