Today’s adjustments show the three-month Euribor rate decreased to 2.016%, remaining below the six-month (2.103%) and 12-month (2.163%) rates.
The six-month Euribor rate, which will become the most utilized in Portugal for variable-rate housing loans in January 2024, dropped today to 2.103%, a decrease of 0.003 points from Tuesday.
Data from the Bank of Portugal (BdP) for August indicates that the six-month Euribor accounted for 38.13% of the stock of variable-rate home loans for primary residences.
The same data shows that the 12-month and three-month Euribor represented 31.95% and 25.45%, respectively.
Over 12 months, the Euribor rate fell, set at 2.163%, down 0.019 points from the previous session.
The three-month Euribor decreased to 2.016%, down 0.005 points from Tuesday.
In September, the monthly averages of the Euribor rose again across all three terms, but more sharply over 12 months.
The three-month Euribor average increased by 0.006 points to 2.027% in September, while the six-month average rose by 0.018 points to 2.102%.
The 12-month Euribor average advanced more markedly in September, specifically by 0.058 points to 2.172%.
On September 11, the European Central Bank (ECB) maintained its key interest rates for the second consecutive monetary policy meeting, as was anticipated by the markets, following eight reductions since the beginning of this cycle in June 2024.
The next ECB monetary policy meeting is scheduled for October 29 and 30 in Florence, Italy.
The Euribor rates are determined by the average rates at which a panel of 19 eurozone banks are willing to lend money to each other in the interbank market.
