In today’s updates, the three-month Euribor rate fell to 2.060%, remaining below the six-month (2.110%) and 12-month (2.209%) rates.
The monthly average of the Euribor for November increased across all terms, with a more significant rise compared to the previous month, particularly in the longer terms.
The three-month Euribor average for November rose by 0.008 points to 2.042%. In contrast, the six-month and 12-month averages increased by 0.0024 points to 2.131% and by 0.030 points to 2.217%, respectively.
The six-month Euribor, which became the most used in Portugal for variable-rate home loans in January 2024, decreased today, being set at 2.110%, down by 0.005 points from Thursday.
Data from the Bank of Portugal (BdP) for September show that the six-month Euribor accounted for 38.3% of the stock of loans for permanent home purchase with a variable rate.
The same data indicate that the 12-month and three-month Euribor represented 31.87% and 25.33%, respectively.
Today, the 12-month Euribor rate also fell, being set at 2.209%, down by 0.001 points from the previous session.
Similarly, the three-month Euribor rate decreased today to 2.060%, also down by 0.001 points from Thursday.
The next monetary policy meeting of the ECB is scheduled for December 17 and 18 in Frankfurt.
On October 30, the European Central Bank (ECB) maintained interest rates for the third consecutive monetary policy meeting, as anticipated by the market, following eight reductions since the entity started this cycle of cuts in June 2024.
ECB President Christine Lagarde stated at the end of the October 30 meeting in Florence that the entity is “in a good position” from a monetary policy standpoint, but emphasized that it is not a fixed position.
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.
