The Euribor rate for three months fell to 2.072%, remaining below the six-month rate at 2.168% and the 12-month rate at 2.310% following today’s adjustments.
The six-month Euribor rate, which became the most utilized in Portugal for variable-rate home loans in January 2024, decreased to 2.168%, dropping by 0.002 points since last Friday.
According to data from Banco de Portugal for October, the six-month Euribor accounted for 38.5% of the stock of variable-rate loans for permanent home ownership.
The same data showed that the 12-month and three-month Euribor rates represented 31.75% and 25.25%, respectively.
For the 12-month period, the Euribor rate climbed to 2.310%, an increase of 0.016 points since last Friday, marking a new high since April 4.
The three-month Euribor rate decreased today to 2.072%, down by 0.010 points compared to last Friday.
In November, the monthly average of the Euribor rose again across all three terms, with more significant increases than in the previous month, specifically in the longer terms.
The average Euribor in November increased by 0.008 points to 2.042% for three months. For six and 12 months, the Euribor advanced by 0.0024 points to 2.131% and by 0.030 points to 2.217%, respectively.
This week, the next European Central Bank (ECB) monetary policy meeting is scheduled for Wednesday and Thursday in Frankfurt.
On October 30, the ECB maintained its key rates for the third consecutive monetary policy meeting, as anticipated by the market, following eight reductions since the entity commenced 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” in terms of monetary policy but emphasized that it is not a fixed position.
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 in the interbank market.
