Today’s changes saw the three-month Euribor rate, which rose to 2.009%, remain below the rates for six (2.124%) and 12 months (2.212%).
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans as of January 2024, dropped today, settling at 2.124%, a decrease of 0.005 points from Thursday.
Data from the Bank of Portugal (BdP) for September shows that the six-month Euribor accounted for 38.3% of the stock of loans for permanent owner-occupied housing with variable rates.
The same data indicates the 12-month and three-month Euribor represented 31.87% and 25.33%, respectively.
The 12-month Euribor rate increased, reaching 2.212%, up 0.001 points from the previous session.
Similarly, the three-month Euribor rose to 2.009%, an increase of 0.011 points from Thursday.
Regarding the monthly average Euribor in October, it rose again across all three terms, more significantly at 12 months.
The average Euribor in October increased by 0.007 points to 2.034% over three months and 0.005 points to 2.107% over six months.
For 12 months, the average Euribor rose more sharply in October, specifically by 0.015 points to 2.187%.
On October 30, the European Central Bank (ECB) maintained the key interest rates for the third consecutive monetary policy meeting, as 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 October 30 meeting in Florence that the entity is “in a good position” from a monetary policy point of view but emphasized 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 set by the average rates at which a group of 19 eurozone banks are willing to lend money to each other on the interbank market.
