The Euribor rates experienced changes today, with the three-month rate advancing to 2.279%, surpassing the six-month rate at 2.244% and the 12-month rate at 2.167%.
The six-month Euribor rate, which became the most utilized for variable-rate home loans in Portugal in January 2024, rose to 2.244%, an increase of 0.054 points.
Data from the Bank of Portugal for February indicate that the six-month Euribor accounted for 37.52% of the outstanding stock of variable-rate home loans. The same data show that the 12-month and three-month Euribor rates accounted for 32.50% and 25.72%, respectively.
The 12-month Euribor rate also increased, reaching 2.167%, up by 0.068 points.
Similarly, the three-month Euribor rate, which has remained below 2.5% since March 14, rose to 2.279%, marking an increase of 0.014 points.
On a monthly basis, the average Euribor rate in March decreased for all three terms—three, six, and 12 months—but at a less pronounced rate than in previous months.
In March, the average three-month Euribor fell by 0.083 points to 2.442%, the six-month rate dropped by 0.075 points to 2.385%, and the 12-month rate decreased by 0.009 points to 2.398%.
As anticipated by the markets, the European Central Bank (ECB) decided in March to lower the key interest rates for the fifth consecutive time in six months, reducing them by a quarter of a point to 2.5%.
The ECB President, Christine Lagarde, suggested that the institution is prepared to halt the interest rate cuts in April.
The next monetary policy meeting of the ECB is scheduled for April 16 and 17 in Frankfurt.
The Euribor rates are determined by the average interest rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
