The Euribor rate decreased today for three months and increased for six and 12 months, compared to Wednesday.
With today’s changes, the three-month rate, which dropped to 2.014%, remained below the six-month (2.119%) and 12-month (2.168%) rates.
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans in January 2024, increased today, being set at 2.119%, 0.005 points higher than on Wednesday.
Data from the Bank of Portugal (BdP) regarding July indicates that the six-month Euribor represented 37.96% of the stock of loans for permanent private housing with a variable rate.
The same data indicates that the 12 and three-month Euribor represented 32.09% and 25.51%, respectively.
For the 12-month term, the Euribor rate also advanced, being set at 2.168%, an increase of 0.008 points.
Conversely, the three-month Euribor decreased to 2.014%, down by 0.015 points.
Today, the decision on the European Central Bank (ECB) key interest rates will be announced at the end of the institution’s monetary policy meeting in Frankfurt.
Analysts expect the institution to maintain the key rates.
In the last monetary policy meeting on July 24, the ECB maintained the key rates, as anticipated by the markets and after eight reductions since the entity began this cycle of cuts in June 2024.
In August, the monthly averages of the Euribor increased for all three terms, with the three-month rate rising more significantly.
The average Euribor rate in August rose by 0.075 points to 2.021% for three months and by 0.029 points to 2.084% for six months.
For 12 months, the average Euribor advanced in August, specifically by 0.035 points to 2.114%.
The Euribor rates are set by the average rates at which a group of 19 eurozone banks is willing to lend money to each other in the interbank market.
