Current modifications show that the three-month Euribor rate, which decreased to 2.066%, stayed below the six-month (2.123%) and 12-month (2.185%) rates.
The six-month Euribor rate, which became the most utilized in Portugal for variable-rate housing loans in January 2024, declined today, being set at 2.123%, a drop of 0.003 points from Tuesday.
Data from the Bank of Portugal (BdP) for August indicate that the six-month Euribor accounted for 38.13% of the stock of variable-rate loans for permanent owner-occupied housing.
The same data show the 12-month and three-month Euribor accounted for 31.95% and 25.45%, respectively.
Over 12 months, the Euribor rate also fell, being set at 2.185%, a decrease of 0.010 points compared to the previous session.
Similarly, the three-month Euribor dropped to 2.066%, a decline of 0.008 points from Tuesday.
The ECB’s monetary policy meeting is being held today and Thursday in Florence, Italy, with investors anticipating another consecutive maintenance of the benchmark rates.
In the previous meeting on September 11, the ECB held the benchmark rates steady for the second consecutive monetary policy meeting, as anticipated by the markets, after eight reductions since starting this cycle of cuts in June 2024.
In September, the monthly averages of the Euribor rose again across all three terms, more notably at the 12-month term.
The September average for the three-month Euribor increased by 0.006 points to 2.027%, and for the six-month Euribor, it rose by 0.018 points to 2.102%.
At the 12-month term, the Euribor’s average showed a more marked increase in September, specifically by 0.058 points to 2.172%.
The Euribor rates are set by the average rates at which a panel of 19 Eurozone banks are willing to lend to each other in the interbank market.
