Today’s changes saw the three-month Euribor rate fall to 2.001%, remaining below the six-month (2.054%) and 12-month (2.084%) rates.
The six-month Euribor rate, which became the most utilized rate for variable-rate housing loans in Portugal in January 2024, dropped today, settling at 2.054%, a decrease of 0.002 points.
Data from the Bank of Portugal (BdP) for April show that the six-month Euribor accounted for 37.61% of the stock of loans for primary residence with a variable rate.
The same data show that the 12-month and three-month Euribor rates accounted for 32.46% and 25.60%, respectively.
The 12-month Euribor rate remained stable, being fixed again at 2.084%, the same value as Friday.
The three-month Euribor, which was below 2% between May 30 and June 12, fell today to 2.001%, a decrease of 0.003 points.
In May, the monthly averages of the Euribor fell again across the three terms, less intensely than in previous months, with a stronger decline in the shortest term (three months).
The Euribor average in May decreased by 0.150 points to 2.099% for three months, 0.082 points to 2.120% for six months, and 0.062 points to 2.091% for 12 months.
At the last monetary policy meeting on June 4-5 in Frankfurt, the European Central Bank (ECB) reduced interest rates by 0.25 basis points, lowering the main refinancing rate to 2%.
This reduction was the eighth since the ECB began this cycle of cuts in June 2024, and according to analysts, it is expected to be the last for this year.
The next ECB monetary policy meeting is scheduled for July 23-24 in Frankfurt.
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 on the interbank market.
