Current adjustments have placed the three-month Euribor rate at 2.066%, which remains below the six-month (2.149%) and 12-month (2.229%) rates.
The six-month Euribor rate, the most prevalent in Portugal since January 2024 for variable-rate mortgage loans, decreased today to 2.149%, a drop of 0.006 percentage points compared to Tuesday.
Data from the Bank of Portugal (BdP) for September show that the six-month Euribor accounted for 38.3% of the stock of variable-rate mortgages for primary residence.
The same data indicate that the 12-month and three-month Euribor rates represented 31.87% and 25.33%, respectively.
The 12-month Euribor rate also declined, set at 2.229%, down by 0.004 percentage points.
Conversely, the three-month Euribor rose today to 2.066%, an increase of 0.015 percentage points from Tuesday.
Regarding the monthly average in October, the Euribor rose across all three terms, with the most significant increase observed at 12 months.
The average Euribor in October rose by 0.007 points to 2.034% over three months and by 0.005 points to 2.107% over six months.
Over 12 months, the October Euribor average climbed more sharply, specifically by 0.015 points to 2.187%.
On October 30, the European Central Bank (ECB) maintained its key interest rates for the third consecutive monetary policy meeting, as anticipated by the market, following eight previous reductions since the beginning of this rate-cutting cycle in June 2024.
ECB President Christine Lagarde stated at the end of the October 30 meeting in Florence that the institution is “well-positioned” concerning monetary policy, though it is not a fixed position.
The next ECB monetary policy meeting is scheduled for December 17 and 18 in Frankfurt.
The Euribor rates are determined by the average interest rates that a group of 19 eurozone banks are willing to lend to one another on the interbank market.
