The three-month Euribor rate, which decreased to 1.993%, remained lower than the six-month rate at 2.103% and the 12-month rate at 2.171% following today’s adjustments.
The six-month Euribor rate, which became the most utilized rate for variable-rate housing loans in Portugal as of January 2024, increased today, being set at 2.103%, up 0.006 points from Tuesday.
According to Banco de Portugal (BdP) data for July, the six-month Euribor accounted for 37.96% of the outstanding stock of loans for permanent housing with a variable rate.
The same data indicates that the 12-month and three-month Euribor rates represented 32.09% and 25.51%, respectively.
Over a 12-month period, the Euribor rate also rose, reaching 2.171%, an increase of 0.011 points.
The three-month Euribor, on the other hand, dropped to 1.993%, a decrease of 0.003 points.
On Tuesday, the Euribor fell below 2% for the first time since August 6.
On September 11, the European Central Bank (ECB) maintained, for the second consecutive monetary policy meeting, the key interest rates, as anticipated by the markets and following eight rate reductions since the start of this cutting cycle in June 2024.
The next ECB monetary policy meeting is scheduled for October 29 and 30 in Florence, Italy.
In August, the monthly Euribor averages rose across all three terms, with a more pronounced increase at three months.
The average Euribor in August increased by 0.075 points to 2.021% for three months, and by 0.029 points to 2.084% for six months.
For 12 months, the Euribor average rose in August, specifically by 0.035 points to 2.114%.
The Euribor rates are established by the average rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
