With today’s changes, the three-month rate, which rose to 2.066%, remained below the six-month (2.121%) and 12-month (2.206%) rates.
The six-month Euribor rate, which became the most used in Portugal for housing loans with variable rates in January 2024, increased today, reaching 2.121%, 0.001 points higher than on Monday.
Data from the Bank of Portugal (BdP) for September indicates that the six-month Euribor accounted for 38.3% of the stock of loans for permanent own housing with a variable rate.
The same data indicates that the 12-month and three-month Euribor accounted for 31.87% and 25.33%, respectively.
Over 12 months, the Euribor rate decreased, set at 2.206%, down 0.003 points.
Conversely, the three-month Euribor rose today to 2.066%, 0.007 points higher than on Monday.
Regarding the monthly average of the Euribor in October, it rose again for all three terms, most notably at 12 months.
The average Euribor in October increased by 0.007 points to 2.034% for three months and by 0.005 points to 2.107% for six months.
At 12 months, the average Euribor rose more sharply in October, notably by 0.015 points to 2.187%.
On October 30, the European Central Bank (ECB) kept the key interest rates unchanged for the third consecutive monetary policy meeting, as had been anticipated by the market, following eight reductions since the entity began this cycle of cuts in June 2024.
ECB President Christine Lagarde stated at the end of the October 30 meeting in Florence that the entity is “in a good position” regarding monetary policy but noted that it is not a fixed position.
The next ECB monetary policy meeting is scheduled for December 17 and 18 in Frankfurt.
The Euribor rates are set by the average rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
