The three-month Euribor rate rose to 2.055%, remaining below the six-month and 12-month rates of 2.126% and 2.254%, respectively.
The six-month Euribor, which became the most utilized rate for variable mortgage loans in Portugal from January 2024, increased today to 2.126%, a rise of 0.013 points from Wednesday.
Data from the Bank of Portugal for September indicates that the six-month Euribor accounted for 38.3% of the variable rate mortgage loan stock for primary residences.
The same data shows that the 12-month and three-month Euribor rates represented 31.87% and 25.33%, respectively.
The 12-month Euribor rate also reached a new peak since April 3, fixed at 2.254%, up 0.003 points from the previous session.
Similarly, the three-month Euribor increased to 2.055%, a gain of 0.026 points since Wednesday.
The monthly average of the Euribor for November rose again across all terms, more notably than in the previous month, with more significant increases in the longer terms.
The November Euribor average climbed 0.008 points to 2.042% over three months. Over six and 12 months, the rate advanced 0.0024 points to 2.131% and 0.030 points to 2.217%.
The next ECB monetary policy meeting is scheduled for December 17 and 18 in Frankfurt.
On October 30, the European Central Bank (ECB) maintained key interest rates for the third consecutive monetary policy meeting, which was anticipated by the market, following eight reductions since the entity began this cycle of cuts in June 2024.
ECB President Christine Lagarde stated at the end of the meeting on October 30 in Florence that the institution is “well-positioned” in terms of monetary policy, although she stressed it 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.
