The Euribor rates increased today for the three-month and 12-month terms while decreasing for the six-month term compared to Friday.
With today’s changes, the three-month rate, which rose to 2.033%, remained below the six-month (2.101%) and 12-month (2.183%) rates.
The six-month Euribor, which became the most used rate in Portugal for variable-rate housing loans in January 2024, decreased today, being set at 2.101%, 0.007 points lower than on Friday.
Data from the Bank of Portugal (BdP) for July indicates that the six-month Euribor accounted for 37.96% of the stock of loans for permanent housing with a variable rate.
The same data indicates that the 12-month and three-month Euribor accounted for 32.09% and 25.51%, respectively.
Conversely, for the 12-month term, the Euribor rate increased, being set at 2.183%, up by 0.016 points.
The three-month Euribor also increased, reaching 2.033%, up by 0.033 points.
On Thursday, the European Central Bank (ECB) maintained, for the second consecutive monetary policy meeting, the key interest rates, as anticipated by the markets and after eight reductions since the entity began this cycle of cuts in June 2024.
The next ECB monetary policy meeting will take place on October 29 and 30 in Florence, Italy.
In August, the monthly averages of Euribor rose across all three terms, most notably for the three-month period.
The average Euribor in August increased by 0.075 points to 2.021% for the three-month term and by 0.029 points to 2.084% for the six-month term.
For the 12-month term, the Euribor average increased in August, rising by 0.035 points to 2.114%.
The Euribor rates are fixed by averaging the rates at which a panel of 19 eurozone banks are willing to lend money to each other in the interbank market.
