The Euribor rates saw changes today, with the three-month rate dropping to 2.019%, remaining below the six-month (2.103%) and 12-month (2.216%) rates.
The six-month Euribor rate, which became the most used for variable-rate housing loans in Portugal as of January 2024, decreased today to 2.103%, a reduction of 0.003 points compared to Tuesday.
Data from the Bank of Portugal (BdP) for August shows that the six-month Euribor accounted for 38.13% of the stock of loans for permanent housing with a variable rate.
The same data indicates that the 12-month and three-month Euribor represented 31.95% and 25.45%, respectively.
For the 12-month term, the Euribor rate also fell, reaching 2.216%, a decrease of 0.007 points from the previous session.
The three-month Euribor rate dropped to 2.019%, down by 0.010 points since Tuesday.
In September, the monthly averages of the Euribor rates increased again across all three terms, more significantly for the 12-month rate.
In September, the average Euribor rose by 0.006 points to 2.027% for three months and by 0.018 points to 2.102% for six months.
However, for the 12-month period, the average Euribor rose more significantly in September by 0.058 points to 2.172%.
On September 11, the European Central Bank (ECB) maintained the key interest rates for the second consecutive monetary policy meeting, as anticipated by the markets after eight cuts since beginning this cycle of reductions in June 2024.
The next ECB monetary policy meeting is scheduled for October 29 and 30 in Florence, Italy.
The Euribor rates are set based on the average rate at which a group of 19 eurozone banks is willing to lend money to each other in the interbank market.
