Today’s changes saw the three-month rate rise to 2.139%, surpassing both the six-month rate at 2.121% and the 12-month rate at 2.067%.
The six-month Euribor rate, which became the most utilized in Portugal for variable rate housing loans in January 2024, increased today, being set at 2.121%, an increase of 0.010 points.
Data from the Bank of Portugal (BdP) for March shows that the six-month Euribor accounted for 37.65% of the total variable rate loans for permanent home ownership.
The same data indicates that the 12-month and three-month Euribor rates represented 32.39% and 25.67%, respectively.
Similarly, over the 12-month span, the Euribor rate rose, reaching 2.067%, an increase of 0.043 points from Friday.
The three-month Euribor, which has remained below 2.5% since March 14, also increased today, reaching 2.139%, a rise of 0.015 points.
In April, the monthly averages of the Euribor fell sharply across all three terms, more than in previous months and most significantly in the 12-month term.
The average Euribor rates for April dropped by 0.193 points to 2.249% for three months, 0.183 points to 2.202% for six months, and 0.255 points to 2.143% for 12 months.
On April 17, during its last monetary policy meeting, the European Central Bank (ECB) reduced the benchmark rate by one-quarter of a point to 2.25%.
This reduction, anticipated by the markets, was the seventh since the ECB started this cycle of cuts in June 2024.
The ECB’s next monetary policy meeting is scheduled for June 5 and 6 in Frankfurt.
Euribor rates are determined by averaging the rates at which a group of 19 eurozone banks are willing to lend money to each other on the interbank market.
