Today’s changes showed the three-month Euribor rate declining to 2.004%, remaining below the six-month (2.110%) and 12-month (2.166%) rates.
The six-month Euribor rate, which became the most commonly used in Portugal for variable-rate housing loans from January 2024, increased today, being set at 2.110%, 0.007 points higher than on Wednesday.
Data from the Bank of Portugal (BdP) concerning August indicates that the six-month Euribor accounted for 38.13% of the stock of home loans with variable rates.
The same data shows that the 12-month and three-month Euribor accounted for 31.95% and 25.45%, respectively.
For the 12-month term, the Euribor rate also rose, being set at 2.166%, 0.003 points higher than in the previous session.
The three-month Euribor fell to 2.004%, 0.012 points lower than on Wednesday.
In September, the monthly average Euribor rates increased again for all three terms, with a more pronounced rise at 12 months.
The average Euribor for September rose by 0.006 points to 2.027% at three months and by 0.018 points to 2.102% at six months.
For the 12-month term, the average Euribor rose more sharply in September, namely by 0.058 points to 2.172%.
On September 11, the European Central Bank (ECB) maintained the key interest rates unchanged for the second consecutive monetary policy meeting, as anticipated by the markets following eight reductions since the entity began this cycle of cuts in June 2024.
The next ECB monetary policy meeting will take place on October 29 and 30 in Florence, Italy.
The Euribor rates are determined by the average rates at which a selection of 19 eurozone banks are willing to lend money to each other in the interbank market.
