The adjustments today have left the three-month Euribor rate at 2.034%, maintaining its position below the six-month (2.105%) and 12-month (2.184%) rates.
The six-month Euribor rate, which became the most used for variable-rate housing loans in Portugal as of January 2024, increased today, being set at 2.105%, a rise of 0.005 points from Friday.
Data from the Bank of Portugal (BdP) regarding July shows that the six-month Euribor accounted for 37.96% of the outstanding stock of loans for variable-rate primary residences.
The same data showed that the 12-month and three-month Euribor accounted for 32.09% and 25.51%, respectively.
The 12-month Euribor rate moved up, being set at 2.184%, an increase of 0.006 points.
Conversely, the three-month Euribor decreased to 2.034%, down 0.019 points from Friday.
This week, the next European Central Bank (ECB) monetary policy meeting is scheduled for September 10 and 11 in Frankfurt, with analysts expecting the institution to maintain its key interest rates.
During the last monetary policy meeting on July 24, the ECB retained its key interest rates, as expected by markets, following eight cuts since the beginning of this reduction cycle in June 2024.
In August, the monthly averages of the Euribor increased across all terms, most significantly at the three-month term.
The average three-month Euribor increased by 0.075 points to 2.061% in August, while the six-month average rose by 0.029 points to 2.084%.
The 12-month average Euribor also rose in August, specifically by 0.035 points to 2.114%.
The Euribor rates are determined by the average interest rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
