The Euribor rates decreased today for the three, six, and 12-month terms following the European Central Bank (ECB) maintaining its key interest rates on Thursday.
Following today’s changes, the three-month rate, which fell to 2.000%, remains lower than the six-month rate at 2.108% and the 12-month rate at 2.167%.
The six-month Euribor rate, which became the most commonly used in Portugal in January 2024 for variable-rate mortgages, fell today, being set at 2.108%, a decrease of 0.011 points compared to Thursday.
According to July data from the Bank of Portugal, the six-month Euribor accounted for 37.96% of the stock of loans for permanent home residency with variable rates.
The same data indicates that the 12-month and three-month Euribor accounted for 32.09% and 25.51%, respectively.
The 12-month Euribor rate also decreased, being set at 2.167%, down by 0.001 points.
Similarly, the three-month Euribor decreased to 2.000%, down by 0.014 points.
On Thursday, the European Central Bank (ECB) maintained its key rates for the second consecutive monetary policy meeting, as anticipated by the markets, following eight reductions since the start of this cycle of cuts in June 2024.
The next ECB monetary policy meeting is scheduled for October 29-30 in Florence, Italy.
In August, the monthly averages of the Euribor increased across all three terms, with the three-month rate experiencing the most significant rise.
The three-month Euribor average rose by 0.075 points to 2.021% in August, while the six-month rate increased by 0.029 points to 2.084%.
At 12 months, the Euribor average increased in August by 0.035 points to 2.114%.
The Euribor rates are established by the average rates at which a group of 19 eurozone banks is willing to lend money to each other in the interbank market.
