The Euribor rate for three months increased to 2.069%, remaining below the six-month rate, which stands at 2.141%, and the 12-month rate at 2.235%.
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans in January 2024, decreased today to 2.141%, 0.005 points lower than on Thursday.
Data from the Bank of Portugal (BdP) for September indicates that the six-month Euribor accounted for 38.3% of the stock of variable-rate permanent home loans.
The same data shows that the 12-month and three-month Euribor represented 31.87% and 25.33%, respectively.
Over 12 months, the Euribor rate increased, being set at 2.235%, 0.001 points higher than the previous session.
Similarly, the three-month Euribor rose to 2.069%, 0.005 points higher than on Thursday.
Regarding the monthly average of Euribor in October, it increased across all three periods, with the most significant rise observed in the 12-month term.
The average Euribor in October rose by 0.007 points to 2.034% for three months and 0.005 points to 2.107% for six months.
In the 12-month term, the average Euribor increased more significantly in October, specifically by 0.015 points to 2.187%.
On October 30, the European Central Bank (ECB) maintained key interest rates for the third consecutive monetary policy meeting, as anticipated by the market, following eight rate reductions since the cycle of cuts began in June 2024.
The ECB President, Christine Lagarde, remarked at the end of the October 30 meeting in Florence that the institution is “in a good position” regarding monetary policy, although she acknowledged that this is not a fixed position.
The next ECB monetary policy meeting will be held on December 17-18 in Frankfurt.
The Euribor rates are determined by the average rates at which 19 eurozone banks are willing to lend money to each other in the interbank market.
