The adjustments today showed the three-month Euribor rate advancing to 2.024%, remaining below the six-month (2.069%) and 12-month (2.087%) rates.
The six-month Euribor rate, which became the most utilized in Portugal for variable-rate housing loans in January 2024, held steady today, once again set at 2.069%.
Data from the Bank of Portugal (BdP) concerning May indicate that the six-month Euribor accounted for 37.75% of the stock of loans for permanent own housing with a variable rate.
The same data show that the 12-month and three-month Euribor represented 32.32% and 25.57%, respectively.
In the 12-month term, the Euribor rate fell, settling at 2.087%, down 0.002 points.
The three-month Euribor rate rose today, reaching 2.024%, up 0.003 points from the previous session.
The monthly averages of the Euribor fell in June for the two shorter terms, less sharply than in preceding months, with a more pronounced decrease at three months.
For the 12-month term, the monthly average of the Euribor remained at 2.081%.
The average Euribor in June decreased by 0.103 points to 1.984% for three months and by 0.066 points to 2.050% for six months.
In its last monetary policy meeting on June 4 and 5 in Frankfurt, the European Central Bank (ECB) lowered interest rates by 0.25 basis points, bringing the main rate to 2%.
This reduction was the eighth since the ECB began this cycle of cuts in June 2024 and, according to analysts, is expected to be the last this year.
The ECB’s next monetary policy meeting is scheduled for July 23 and 24 in Frankfurt.
The Euribor rates are determined by averaging the rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
