The three-month Euribor rate decreased to 2.004%, remaining below the six-month rate of 2.109% and the 12-month rate of 2.159% following today’s changes.
The six-month Euribor rate, predominant in Portugal’s variable-rate mortgage loans since January 2024, increased slightly to 2.109%, 0.002 points higher than Friday’s rate.
Data from the Bank of Portugal (BdP) for July show that the six-month Euribor accounted for 37.96% of the outstanding loans for primary residence at a variable rate.
The same data reveals that the 12-month and three-month Euribor accounted for 32.09% and 25.51%, respectively.
The 12-month Euribor also saw an increase, reaching 2.159%, up by 0.005 points.
In contrast, the three-month Euribor rate decreased to 2.004%, down by 0.012 points.
On September 11, the European Central Bank (ECB) maintained interest rates for the second consecutive monetary policy meeting, as anticipated by the markets. This follows eight rate reductions since the ECB began this cycle in June 2024.
The next ECB monetary policy meeting is scheduled for October 29 and 30 in Florence, Italy.
In August, the monthly averages of Euribor rates rose across all three terms, with the most significant increase in the three-month rate.
The average three-month Euribor rate in August increased by 0.075 points to 2.021%, and the six-month average rose by 0.029 points to 2.084%.
The 12-month Euribor average increased by 0.035 points in August, reaching 2.114%.
The Euribor rates are set based on the average rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
