With today’s changes, the three-month rate, which fell to 1.971%, remained below the six-month (2.051%) and 12-month (2.078%) rates.
The six-month Euribor, which became the most used benchmark in Portugal for variable-rate home loans in January 2024, rose today, being set at 2.051%, 0.002 points more than on Friday.
According to data from the Bank of Portugal (BdP) for May, the six-month Euribor accounted for 37.75% of the stock of home loans for primary residences with variable rates.
The same data indicate that the 12-month and three-month Euribor represented 32.32% and 25.57%, respectively.
Over a 12-month period, the Euribor rate also advanced, being set at 2.078%, up 0.013 points.
In contrast, the three-month Euribor fell today to 1.971%, 0.024 points lower than the previous session.
This week, on Wednesday and Thursday, the European Central Bank (ECB) will hold its monetary policy meeting in Frankfurt.
Investors are eagerly awaiting this week’s ECB monetary policy meeting, which is expected to keep rates unchanged, with attention on the possibility of the entity’s president, Christine Lagarde, providing some indication of future steps.
In the last monetary policy meeting on June 4 and 5 in Frankfurt, the ECB cut interest rates by 0.25 points, bringing the main rate down to 2%.
This reduction was the eighth since the ECB began this cycle of cuts in June 2024 and, according to analysts, is expected to be the last this year.
The monthly Euribor averages fell again in June for the two shorter terms, though less intensely than in previous months and more markedly for the three-month term.
For 12 months, the monthly Euribor average remained at 2.081%.
In June, the Euribor average dropped 0.103 points to 1.984% for three months and 0.066 points to 2.050% for six months.
The Euribor rates are set by the average of the rates at which a group of 19 eurozone banks are willing to lend money to each other on the interbank market.
