Following today’s changes, the three-month Euribor rate, which declined to 2.074%, remained below the six-month (2.126%) and 12-month rates (2.195%).
The six-month Euribor rate, which became the most used in Portugal for variable rate housing loans as of January 2024, increased today, reaching 2.126%, up by 0.002 points from Monday.
Data from the Bank of Portugal (BdP) for August indicate that the six-month Euribor represented 38.13% of the stock of loans for permanent own housing with a variable rate.
The same data show that the 12-month and three-month Euribor accounted for 31.95% and 25.45%, respectively.
The 12-month Euribor rate also advanced, reaching 2.195%, an increase of 0.020 points from the previous session.
Conversely, the three-month Euribor declined to 2.074%, 0.010 points lower than on Monday.
The next European Central Bank (ECB) monetary policy meeting is scheduled for October 29 and 30 in Florence, Italy, with investors anticipating another hold on key rates.
In the previous meeting on September 11, the ECB maintained its key rates for the second consecutive monetary policy meeting, as markets had anticipated, following eight cuts since the institution began this cycle of reductions in June 2024.
In September, the monthly averages of the Euribor rose again across all three terms, with a more pronounced increase at 12 months.
The Euribor average in September increased by 0.006 points to 2.027% at three months and by 0.018 points to 2.102% at six months.
At 12 months, the Euribor average rose more sharply in September, increasing by 0.058 points to 2.172%.
The Euribor rates are set by the average rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
