With today’s changes, the three-month rate, which decreased to 2.029%, remains below the six-month (2.106%) and 12-month rates (2.169%).
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans in January 2024, rose today, reaching 2.106%, an increase of 0.001 points from Monday.
Data from the Bank of Portugal (BdP) for July indicates that the six-month Euribor represented 37.96% of the stock of loans for permanent own housing with variable rates.
The same data shows that the 12 and three-month Euribor accounted for 32.09% and 25.51%, respectively.
Conversely, the 12-month Euribor rate decreased, settling at 2.169%, down 0.015 points.
The three-month Euribor also dropped to 2.029%, a decrease of 0.005 points from Monday.
This week, the European Central Bank’s (ECB) monetary policy meeting is taking place on the 10th and 11th in Frankfurt, with analysts expecting the institution to maintain key rates.
In the last monetary policy meeting on July 24, the ECB maintained key rates, as anticipated by markets, after eight reductions since the start of this cycle of cuts in June 2024.
In August, the monthly averages of the Euribor rose across all three terms, more sharply at three months.
The average Euribor in August increased by 0.075 points to 2.021% for three months and 0.029 points to 2.084% for six months.
For 12 months, the average Euribor climbed in August by 0.035 points to 2.114%.
The Euribor rates are determined by the average rates at which 19 eurozone banks are willing to lend money to each other in the interbank market.
