The Euribor rates decreased today across the three-, six-, and twelve-month terms compared to Monday.
With today’s changes, the three-month rate decreased to 2.015%, remaining below the six-month (2.087%) and twelve-month (2.165%) rates.
The six-month Euribor rate, which became the most utilized in Portugal for variable-rate mortgage loans in January 2024, fell today, being set at 2.087%, a decrease of 0.014 points from Monday.
Data from the Bank of Portugal (BdP) for July indicate that the six-month Euribor constituted 37.96% of the stock of loans for permanent residential housing with a variable rate.
The same data show that the twelve-month and three-month Euribor rates accounted for 32.09% and 25.51%, respectively.
Similarly, the twelve-month Euribor rate decreased, being fixed at 2.165%, down by 0.018 points.
The three-month Euribor rate also decreased to 2.015%, a reduction of 0.018 points.
Last Thursday, the European Central Bank (ECB) maintained, for the second consecutive monetary policy meeting, the key rates, as anticipated by the markets and following eight reductions since it began this easing cycle in June 2024.
The next ECB monetary policy meeting is scheduled for October 29 and 30 in Florence, Italy.
In August, the monthly averages for the Euribor rose across all three terms, most noticeably in the three-month rate.
The average three-month Euribor rate in August increased by 0.075 points to 2.021%, and the six-month rate rose by 0.029 points to 2.084%.
The twelve-month Euribor average increased in August by 0.035 points to 2.114%.
The Euribor is determined by the average rates at which a panel of 19 eurozone banks are willing to lend to each other in the interbank market.
