With today’s changes, the three-month rate, which rose to 2.075%, remained below the six-month (2.147%) and 12-month rates (2.254%).
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans in January 2024, increased today, set at 2.147%, up 0.021 points from Thursday.
Data from the Bank of Portugal (BdP) for September indicate that the six-month Euribor accounted for 38.3% of the stock of variable-rate permanent housing loans.
The same data show that the 12-month and three-month Euribor represented 31.87% and 25.33%, respectively.
In the 12-month period, the Euribor rate remained at the new high reached on Thursday since April 3, once again set at 2.254%.
The three-month Euribor rose today for the second consecutive session to 2.075%, up 0.020 points from Thursday.
Regarding the monthly average Euribor in November, it increased again across all three terms but more sharply than the previous month, especially in the longer terms.
The average Euribor in November rose 0.008 points to 2.042% for three months. For the six and 12 months, the Euribor advanced by 0.0024 points to 2.131% and 0.030 points to 2.217%, respectively.
The next ECB monetary policy meeting is scheduled for December 17 and 18 in Frankfurt.
On October 30, the European Central Bank (ECB) maintained its key rates for the third consecutive monetary policy meeting, as anticipated by the market, following eight reductions since the beginning of this cycle in June 2024.
ECB President Christine Lagarde stated at the end of the October 30 meeting in Florence that the entity is “well-positioned” from a monetary policy standpoint, although this is not a fixed position.
The Euribor rates are set by the average rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
