The Euribor rates saw adjustments today, with the three-month rate advancing to 2.026%, remaining below the six-month (2.103%) and the 12-month rates (2.226%).
The six-month Euribor rate, which became the most used benchmark in Portugal for variable-rate home loans in January 2024, increased to 2.103%, which is 0.008 points higher than last Friday.
Data from the Bank of Portugal (BdP) for August shows that the six-month Euribor accounted for 38.13% of the stock of loans for permanent home ownership with a variable rate.
The same data indicates that the 12-month and three-month Euribor rates represented 31.95% and 25.45%, respectively.
The 12-month Euribor rate rose to 2.226%, an increase of 0.002 points compared to the previous session.
The three-month Euribor also advanced to 2.026%, up by 0.006 points from the previous Friday.
In September, the Euribor monthly averages rose across all three terms, with the most significant increase in the 12-month rate.
The September average for the three-month Euribor rose by 0.006 points to 2.027% and the six-month Euribor by 0.018 points to 2.102%.
The 12-month Euribor, however, saw a sharper climb in September, advancing by 0.058 points to 2.172%.
On September 11, the European Central Bank (ECB) held its key interest rates steady for the second consecutive monetary policy meeting, in line with market expectations, following eight reductions since the cutting cycle began in June 2024.
The ECB’s next monetary policy meeting is scheduled for October 29-30 in Florence, Italy.
The Euribor rates are determined by the average rates at which a panel of 19 eurozone banks are willing to lend to each other on the interbank market.
