Current changes show that the three-month Euribor rate, decreasing to 2.014%, remains below the six-month (2.061%) and 12-month (2.099%) rates.
The six-month Euribor rate, which became the most prevalent rate for variable-rate housing loans in Portugal as of January 2024, fell today and was set at 2.061%, a decrease of 0.010 points.
According to April data from the Bank of Portugal (BdP), the six-month Euribor accounted for 37.61% of outstanding loans for permanent private housing with a variable rate.
The data also showed that the 12-month and three-month Euribor represented 32.46% and 25.60%, respectively.
The 12-month Euribor also declined, setting at 2.099%, down by 0.012 points from Tuesday.
The three-month Euribor, which stayed below 2% between May 30 and June 12, also decreased to 2.014%, down 0.009 points.
In May, monthly averages for the Euribor fell across all three maturities but less intensely than in previous months, with a more significant drop in the shortest term (three months).
The May averages decreased by 0.162 points to 2.087% for three months, 0.086 points to 2.116% for six months, and 0.062 points to 2.081% for 12 months.
During the last monetary policy meeting on June 4 and 5 in Frankfurt, the European Central Bank (ECB) reduced interest rates by 0.25 basis points, lowering the main rate to 2%.
This reduction marked the eighth since the ECB began this round of cuts in June 2024, and according to analysts, it is expected to be the last this year.
The next ECB monetary policy meeting is scheduled for July 23 and 24 in Frankfurt.
The Euribor rates are determined by the average rates at which a group of 19 Eurozone banks are willing to lend money to each other in the interbank market.
