The Euribor rates today experienced an upward movement in both the three-month and six-month terms, while the 12-month rate saw a decline compared to Tuesday.
Following today’s adjustments, the three-month rate rose to 2.036%, remaining below the six-month (2.100%) and 12-month (2.136%) rates.
The six-month Euribor rate, which became the most commonly used benchmark in variable rate mortgage lending in Portugal from January 2024, increased today, reaching 2.100%, 0.002 points higher than Tuesday.
Data from the Bank of Portugal (BdP) for June show that the six-month Euribor accounted for 37.74% of the stock of loans for owner-occupied permanent housing with variable rates.
The same data indicate that the 12-month and three-month Euribor represented 32.28% and 25.58%, respectively.
In the 12-month term, the Euribor rate decreased to 2.136%, a drop of 0.006 points.
The three-month Euribor rose to 2.036%, up 0.007 points from Tuesday and above 2% for the fifth consecutive session.
During its last monetary policy meeting on July 24, the European Central Bank (ECB) maintained the key interest rates, as anticipated by the markets, following eight consecutive cuts since the beginning of this cycle in June 2024.
While some analysts expect the key interest rates to remain unchanged until the end of the year, others predict a new cut of 25 basis points in September.
The next ECB monetary policy meeting is scheduled for September 10 and 11 in Frankfurt.
In July, the monthly averages of the Euribor reversed the recent trend, rising slightly in the shorter terms but more significantly for the six-month rate.
The average Euribor in July increased by 0.002 points to 1.986% for three months and by 0.005 points to 2.055% for six months.
At the 12-month term, after stabilizing in June, the average Euribor fell slightly in July, specifically by 0.002 points to 2.079%.
The Euribor is determined by the average rates at which a group of 19 eurozone banks is willing to lend money to each other in the interbank market.
