The three-month Euribor rate, which fell to 2.054% today, remained below the six-month (2.134%) and 12-month (2.221%) rates.
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans in January 2024, decreased today, being set at 2.134%, 0.015 points lower than on Wednesday.
Data from the Bank of Portugal (BdP) for September indicate that the six-month Euribor accounted for 38.3% of the stock of loans for permanent owner-occupied housing with a variable rate.
The same data show that the 12-month and three-month Euribor represented 31.87% and 25.33%, respectively.
The 12-month Euribor rate also fell, being set at 2.221%, a decrease of 0.008 points.
Similarly, the three-month Euribor rate fell today to 2.054%, 0.012 points lower than on Wednesday.
Regarding the monthly average Euribor in October, it rose again for all three terms but more sharply at 12 months.
In October, the three-month Euribor average increased by 0.007 points to 2.034%, and the six-month rate rose by 0.005 points to 2.107%.
The 12-month Euribor average saw a more pronounced increase in October, advancing by 0.015 points to 2.187%.
On October 30, the European Central Bank (ECB) kept its key rates unchanged for the third consecutive monetary policy meeting, as anticipated by the market, following eight reductions since the entity began this cycle of cuts in June 2024.
The ECB’s President, Christine Lagarde, remarked at the end of the meeting on October 30 in Florence that the entity is in a “good position” from a monetary policy perspective, though it is not a fixed position.
The next ECB monetary policy meeting will be held on December 17 and 18 in Frankfurt.
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 in the interbank market.
