Today’s adjustments see the three-month rate drop to 2.082%, remaining below the six-month (2.170%) and 12-month (2.294%) rates.
The Euribor six-month rate, which became the most utilized in Portugal for variable rate mortgage loans in January 2024, decreased today, settling at 2.170%, down 0.002 points from Thursday when it was 1.172%, the highest since April 23.
Data from Banco de Portugal for October indicate that the six-month Euribor accounted for 38.5% of the stock of loans for a permanent home with a variable rate.
The same data shows that the 12-month and three-month Euribor rates accounted for 31.75% and 25.25%, respectively.
Over a 12-month term, the Euribor rate also fell to 2.294%, down 0.004 points on Thursday when it reached 2.298%, a new high since April 4.
The three-month Euribor rate also declined today to 2.092%, down 0.018 points from Thursday when it was 2.100%, a new high since May 19.
The average monthly Euribor rate in November rose again across all three terms, with a sharper increase than in the previous month, especially in the longer terms.
The November Euribor average increased by 0.008 points to 2.042% for three months. For six and 12 months, Euribor rose by 0.0024 points to 2.131% and 0.030 points to 2.217%, respectively.
The next European Central Bank monetary policy meeting is scheduled for December 17-18 in Frankfurt.
On October 30, the European Central Bank (ECB) retained its key interest rates for the third consecutive monetary policy meeting, as had been anticipated by the market, following eight cuts since beginning this cycle in June 2024.
The president of the ECB, Christine Lagarde, remarked at the end of the October 30 meeting in Florence that the entity is “well-positioned” in terms of monetary policy but emphasized that it is not a fixed point.
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 on the interbank market.
