The Euribor rates decreased today for the three and six-month periods, with the shortest term falling below 2% for the first time since August 6, while the 12-month rate saw an increase compared to Monday.
Following today’s adjustments, the three-month rate dropped to 1.996%, remaining below the six-month rate at 2.097% and the 12-month rate at 2.160%.
The six-month Euribor, which became the most common rate used for variable-rate home loans in Portugal as of January 2024, fell today, reaching 2.097%, a decrease of 0.012 points from Monday.
Data from the Bank of Portugal (BdP) for July showed that the six-month Euribor accounted for 37.96% of the stock of permanent home loans with variable rates.
The same data indicated that the 12-month and three-month Euribor accounted for 32.09% and 25.51%, respectively.
For the 12-month period, the Euribor increased, reaching 2.160%, a rise of 0.001 points.
The three-month Euribor fell to 1.996%, dropping 0.008 points.
On September 11, the European Central Bank (ECB) maintained its key rates for the second consecutive monetary policy meeting, as anticipated by markets, following eight reductions since the entity began this cycle of cuts in June 2024.
The next ECB monetary policy meeting is scheduled for October 29-30 in Florence, Italy.
In August, the monthly averages of the Euribor saw increases across all three terms, with the most significant rise in the three-month period.
The average three-month Euribor in August rose 0.075 points to 2.021%, while the six-month average increased by 0.029 points to 2.084%.
The 12-month Euribor average also advanced in August, rising by 0.035 points to 2.114%.
The Euribor rates are determined by the average interest rates at which a group of 19 eurozone banks lend money to each other in the interbank market.
