With today’s changes, the three-month Euribor rate, which fell to 1.990%, remained below the six (2.130%) and twelve-month (2.212%) rates.
The six-month Euribor rate, which in January 2024 became the most used rate for variable-rate housing loans in Portugal, dropped today, settling at 2.130%, 0.004 points lower than on Tuesday.
Data from the Bank of Portugal for September indicates that the six-month Euribor accounted for 38.3% of the stock of loans for permanent owner-occupied homes with a variable rate.
The same data shows that the twelve and three-month Euribor rates represented 31.87% and 25.33%, respectively.
For the twelve-month period, the Euribor rate rose to 2.212%, 0.006 points higher than the previous session.
Conversely, the three-month Euribor rate fell to 1.990%, marking its first dip below 2% since September 25, 0.024 points less than on Tuesday.
Regarding the monthly average Euribor in October, it rose again across all three terms, with a more pronounced increase at twelve months.
In October, the three-month Euribor average increased by 0.007 points to 2.034%, and the six-month average rose by 0.005 points to 2.107%.
At twelve months, the Euribor average increased more significantly in October, specifically by 0.015 points to 2.187%.
On Thursday, the European Central Bank (ECB) maintained its key rates for the third consecutive monetary policy meeting, as anticipated by the market and following eight reductions since the start of this cycle of cuts in June 2024.
ECB President Christine Lagarde stated at the end of the Thursday meeting in Florence that the entity is “in a good position” from a monetary policy perspective, but noted 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 in the interbank market.
