With today’s changes, the three-month rate, which increased to 2.020%, remained below the six-month (2.095%) and 12-month rates (2.224%).
The six-month Euribor rate, which became the most used in Portugal for variable-rate mortgage loans as of January 2024, increased today, being set at 2.095%, up by 0.012 points from Thursday.
Data from the Bank of Portugal (BdP) for August indicate that the six-month Euribor accounted for 38.13% of the stock of loans for permanent housing at a variable rate.
The same data indicate that the Euribor rates for 12 and three months accounted for 31.95% and 25.45%, respectively.
For the 12-month period, the Euribor rate remained stable, being set again at 2.224%.
The three-month Euribor rose to 2.020%, up by 0.020 points from Thursday.
In September, the monthly averages of the Euribor rose again across the three terms, but more sharply for the 12-month period.
In September, the three-month Euribor average increased by 0.006 points to 2.027%, and the six-month average increased by 0.018 points to 2.102%.
For the 12-month period, the Euribor average rose more significantly in September, by 0.058 points to 2.172%.
On September 11, the European Central Bank (ECB) kept its key interest rates unchanged for the second consecutive monetary policy meeting, as anticipated by the markets and following eight reductions since the entity began this cycle of cuts in June 2024.
The next ECB monetary policy meeting will be held on October 29 and 30 in Florence, Italy.
The Euribor rates are set by the average of the rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
