The three-month Euribor rate rose today to 2.004%, remaining below the six- and twelve-month rates, which stand at 2.056% and 2.084%, respectively.
The six-month Euribor rate, which became the most common reference in Portugal for variable-rate mortgages in January 2024, increased by 0.004 points to 2.056% today.
According to data from the Bank of Portugal (BdP) for April, the six-month Euribor accounted for 37.61% of the stock of loans for permanent residential property with a variable rate.
The same data indicate that the twelve- and three-month Euribor rates represented 32.46% and 25.60%, respectively.
The twelve-month Euribor rate fell by 0.006 points compared to Thursday, reaching 2.084%.
The three-month Euribor, which had been below 2% since May 30, rose above this level today, climbing to 2.004%, reflecting an increase of 0.029 points from the previous day, after setting a new low on Wednesday since November 25, 2022.
The European Central Bank (ECB) held a meeting last week in Frankfurt, Germany, lowering interest rates by 0.25 basis points, which brought the main policy rate down to 2%.
This reduction marks the eighth since the ECB started this cycle of cuts in June 2024, and analysts suggest it may be the last for this year.
The next monetary policy meeting of the ECB is scheduled for July 23 and 24 in Frankfurt.
The Euribor rates are determined by the average rate at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
