Euribor rates have risen today for the three-month, six-month, and 12-month terms compared to the previous session.
The three-month rate increased by 0.001 points to 2.075%, compared to 2.074% the day before, remaining below the six-month (2.089%) and 12-month (2.162%) rates.
The six-month Euribor, which became the most used in Portugal for variable rate housing loans in January of last year, rose today by 0.003 points to 2.089%, from 2.086% in the previous session.
The 12-month Euribor increased by 0.014 points compared to Monday.
According to data from the Bank of Portugal (BdP) concerning June, the six-month Euribor accounted for 37.74% of the stock of loans for permanent home loans with variable rates.
The same data showed that the 12-month and three-month Euribors represented 32.28% and 25.58%, respectively.
In August, the three-month Euribor averaged 2.021%, the six-month at 2.084%, and the 12-month at 2.114%, compared to 1.986%, 2.055%, and 2.079% respectively in July.
At the last monetary policy meeting on July 24, the European Central Bank (ECB) maintained its key rates as anticipated by the markets, following eight cuts since starting this cycle of reductions in June 2024.
While some analysts predict the key rates will remain unchanged at least until the end of this year, others foresee a new cut, of 25 basis points, in September.
The next ECB monetary policy meeting is scheduled for September 10 and 11 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.
