Today, the three-month Euribor rate rose to 1.975%, remaining below the six-month (2.052%) and 12-month (2.090%) rates.
The six-month Euribor rate, which has been the most used in Portugal for variable-rate mortgages since January 2024, increased by 0.003 points to 2.052% today.
Data from the Bank of Portugal (BdP) for April show that the six-month Euribor accounted for 37.61% of the stock of variable-rate mortgages for primary residences.
The same data indicated that the 12-month and three-month Euribor rates represented 32.46% and 25.60%, respectively.
Over 12 months, the Euribor rate remained stable compared to Wednesday, at 2.090%.
As for the three-month Euribor, which has been below 2% since May 30, it increased to 1.975%, a rise of 0.022 points from the previous day, marking a new low since November 25, 2022.
The European Central Bank (ECB) met last week in Frankfurt, Germany, and reduced interest rates by 0.25 basis points, bringing the main policy rate down to 2%.
This reduction was the eighth since the ECB began this cycle of cuts in June 2024 and, according to analysts, is expected to be the last for this year.
The next ECB monetary policy meeting is scheduled for July 23 and 24 in Frankfurt.
The Euribor rates are set by the average of the rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
