With today’s changes, the three-month Euribor rate, which fell to 2.050%, remained below the six-month (2.127%) and 12-month rates (2.186%).
The six-month Euribor rate, which became the most used variable-rate benchmark in Portugal for home loans in January 2024, rose today, setting at 2.127%, an increase of 0.004 points compared to Wednesday.
Data from the Bank of Portugal (BdP) for August indicate that the six-month Euribor accounted for 38.13% of the stock of loans for permanent home ownership with a variable rate.
The same data show that the 12 and three-month Euribor accounted for 31.95% and 25.45%, respectively.
Over a 12-month period, the Euribor rate also advanced, reaching 2.186%, up 0.001 points from the previous session.
Conversely, the three-month Euribor fell to 2.050%, down 0.016 points compared to Wednesday.
The ECB’s monetary policy meeting in Florence, Italy, concludes today, with investors anticipating yet another hold on key rates, the third consecutive time.
In the previous meeting on September 11, the ECB maintained key rates for the second consecutive monetary policy meeting, as expected by the markets, following eight reductions since beginning this cycle of cuts in June 2024.
In September, the monthly average Euribor rates rose again across all three terms, with the most significant increase seen at 12 months.
The average three-month Euribor in September rose by 0.006 points to 2.027%, while the six-month rate increased by 0.018 points to 2.102%.
For the 12-month term, the average Euribor saw a more pronounced rise in September, specifically by 0.058 points to 2.172%.
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.
