The three-month Euribor rate decreased by 0.025 points to 2.053%, compared to 2.078% the previous day, remaining below the six-month (2.100%) and 12-month (2.178%) rates.
The six-month Euribor rate, which became the most used in Portugal for variable-rate mortgage loans in January of last year, fell today by 0.003 points to 2.100%, from 2.103% in the previous session.
The 12-month Euribor rate, on the other hand, dropped 0.012 points compared to Thursday, settling at 2.178%.
Data from the Bank of Portugal (BdP) for July indicate that the six-month Euribor accounted for 37.96% of the outstanding variable-rate home loans for permanent residence.
The same data show that the 12-month and three-month Euribor rates accounted for 32.09% and 25.51%, respectively.
In August, the three-month Euribor averaged 2.021%, the six-month averaged 2.084%, and the 12-month reached 2.114%, compared to 1.986%, 2.055%, and 2.079%, respectively, in July.
During its last monetary policy meeting on July 24, the European Central Bank (ECB) kept interest rates steady, as anticipated by markets, following eight rate cuts since the entity began this cycle of reductions in June 2024.
While some analysts predict that the key rates will remain unchanged at least until the end of the year, others foresee a new 25 basis point cut in September.
The next ECB monetary policy meeting is scheduled for September 10 and 11 in Frankfurt.
The Euribor rates are determined by the average rates at which a group of 19 eurozone banks are willing to lend to each other in the interbank market.
