The three-month Euribor rate, which fell to 1.958%, remained below the six-month (2.033%) and 12-month (2.055%) rates following today’s adjustments.
The six-month Euribor rate, which became the most commonly used rate in Portugal for variable-rate housing loans in January 2024, decreased today, settling at 2.033%, down 0.018 points from Tuesday.
Data from the Bank of Portugal (BdP) for April indicate that the six-month Euribor accounted for 37.61% of the stock of loans for permanent housing with variable rates.
The same data show that the 12-month and three-month Euribor rates represented 32.46% and 25.60%, respectively.
The three-month Euribor rate, which has been below 2% since June 24, dropped today to 1.958%, a decrease of 0.003 points from Tuesday.
Similarly, the 12-month Euribor rate fell to 2.055%, down 0.015 points from Tuesday.
At the last monetary policy meeting on June 4 and 5 in Frankfurt, the European Central Bank (ECB) lowered interest rates by 0.25 basis points, bringing the main rate down to 2%.
This cut was the eighth since the ECB began this cycle of reductions in June 2024 and, according to analysts, is expected to be the last for 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 of the rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
