With today’s changes, the three-month Euribor rate, which rose to 2.064%, remained below the six-month (2.146%) and 12-month (2.234%) rates.
The six-month Euribor rate, which became the most utilized in Portugal for variable-rate home loans in January 2024, increased today, being set at 2.146%, an increase of 0.007 points from Wednesday.
Data from the Bank of Portugal (BdP) for September indicate that the six-month Euribor accounted for 38.3% of the stock of loans for permanent own housing with a variable rate.
The same data show that the 12-month and three-month Euribor rates represented 31.87% and 25.33%, respectively.
The 12-month Euribor rate also advanced, being set at 2.234%, up by 0.010 points from the previous session.
Similarly, the three-month Euribor increased to 2.064%, rising by 0.016 points from Wednesday.
As for the monthly average Euribor in October, it rose again across all three durations, most notably at 12 months.
The average Euribor in October increased by 0.007 points to 2.034% for three months and by 0.005 points to 2.107% for six months.
For 12 months, the average Euribor rose more significantly in October, specifically by 0.015 points to 2.187%.
On October 30, the European Central Bank (ECB) maintained policy interest rates for the third consecutive monetary policy meeting, as anticipated by the market and after eight reductions since the entity initiated this cycle of cuts in June 2024.
The ECB President, Christine Lagarde, stated at the end of the October 30 meeting in Florence that the entity is “well-positioned” from a monetary policy standpoint, but it is not in a fixed position.
The next ECB monetary policy meeting is scheduled for December 17 and 18 in Frankfurt.
Euribor rates are set by the average of rates at which a group of 19 eurozone banks are willing to lend to each other in the interbank market.
