Today’s adjustments have led the three-month Euribor rate to decline to 2.047%, remaining below the six-month rate at 2.123% and the 12-month rate at 2.220%.
The six-month Euribor rate, which became the most commonly used in Portugal for variable-rate housing loans in January 2024, decreased today, settling at 2.123%, which is 0.011 points less than Thursday.
Data from the Bank of Portugal (BdP) for September indicate that the six-month Euribor represented 38.3% of the stock of loans for permanent housing with a variable rate.
The same data show that the 12-month and three-month Euribor rates accounted for 31.87% and 25.33%, respectively.
Over a 12-month period, the Euribor rate also fell, being set at 2.220%, a decrease of 0.001 points.
Similarly, the three-month Euribor dropped today to 2.047%, 0.007 points lower than Thursday.
Regarding the average monthly Euribor in October, it rose again across the three terms, with a more pronounced increase seen in the 12-month rate.
The average Euribor in October increased by 0.007 points to 2.034% for three months and by 0.005 points to 2.107% for six months.
At 12 months, the average Euribor advanced more notably in October, specifically by 0.015 points to 2.187%.
On October 30, the European Central Bank (ECB) maintained its key rates for the third consecutive monetary policy meeting, as anticipated by the market, following eight reductions since the institution began this cycle of cuts in June 2024.
ECB President Christine Lagarde, after the meeting on October 30 in Florence, stated that the institution is “well-positioned” from a monetary policy standpoint but emphasized that it is not a fixed position.
The next ECB monetary policy meeting is scheduled for December 17 and 18 in Frankfurt.
The Euribor rates are established by the average rates at which a group of 19 eurozone banks is willing to lend money to each other in the interbank market.
