The Euribor rates underwent changes today, with the three-month rate increasing to 1.971%, remaining below the six-month and 12-month rates, which were at 2.053% and 2.058%, respectively.
The six-month Euribor rate, which became the most commonly used for variable-rate housing loans in Portugal as of January 2024, rose today to 2.053%, marking an increase of 0.016 points from Thursday.
According to the Bank of Portugal (BdP), data from May shows that the six-month Euribor accounted for 37.75% of the stock of loans for permanent housing with variable interest rates.
The same data indicates that the 12-month and three-month Euribor rates accounted for 32.32% and 25.57%, respectively.
The 12-month Euribor rate also rose, reaching 2.058%, an increase of 0.022 points.
Similarly, the three-month Euribor rate rose today to 1.971%, up by 0.023 points from the previous session.
On Thursday, the European Central Bank (ECB) maintained the key interest rates, as anticipated by markets, following eight reductions since starting this cycle of cuts in June 2024.
Analysts predict that the key interest rates will remain unchanged at least until the end of this year.
The next ECB monetary policy meeting is scheduled for September 10 and 11 in Frankfurt.
The monthly averages of the Euribor rates fell again in June for the two shorter terms, although less sharply than in previous months, with a more noticeable decrease in the three-month term.
Meanwhile, the 12-month Euribor’s monthly average held steady at 2.081%.
The June average for the Euribor dropped by 0.103 points to 1.984% for three months and by 0.066 points to 2.050% for six months.
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.
