With today’s changes, the three-month rate, which fell to 2.023%, remained below the six-month (2.142%) and 12-month (2.199%) rates.
The six-month Euribor rate, which will become the most used in Portugal for variable-rate home loans from January 2024, increased today, being set at 2.142%, 0.004 points higher than on Friday.
Data from the Bank of Portugal (BdP) for September indicate that the six-month Euribor represented 38.3% of the stock of loans for permanent owner-occupied housing with a variable rate.
The same data indicate that the 12-month and three-month Euribor represented 31.87% and 25.33%, respectively.
Over a 12-month period, the Euribor rate also advanced, being set at 2.199%, 0.003 points higher than the previous session.
In contrast, the three-month Euribor fell to 2.023%, 0.017 points lower than on Friday.
Regarding the monthly average Euribor, it rose again across all three terms, but more sharply at 12 months.
The average Euribor in October rose 0.007 points to 2.034% at three months and 0.005 points to 2.107% at six months.
At 12 months, the average Euribor advanced more significantly in October, particularly by 0.015 points to 2.187%.
On Thursday, the European Central Bank (ECB) maintained the key rates for the third consecutive monetary policy meeting, as anticipated by the market and after eight reductions since the entity began this cycle of cuts in June 2024.
The ECB President, Christine Lagarde, stated at the meeting’s conclusion on Thursday in Florence that the entity is “in a good position” concerning monetary policy, but it is not a fixed position.
The next ECB monetary policy meeting is scheduled for December 17 and 18 in Frankfurt.
The Euribor rates are established by averaging the rates at which a group of 19 banks in the eurozone is willing to lend money to each other in the interbank market.
