Six-month Euribor rates hit new high

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The Euribor rates fell, this Monday, in the three-month term and rose in the six and 12-month terms, with the six-month rates renewing a 14-year high.

The six-month Euribor rate, which is the most widely used rate for home loans in Portugal and which entered positive territory on June 6, 2022, renewed its 14-year high by rising 0.017 points to 2.959% from 2.942% on Friday.

Last January 25, the six-month Euribor had reached a maximum when it settled at 2.928%.

The average six-month Euribor rose from 2.321% in November to 2.560% in December.

The six-month Euribor had been negative for six years and seven months (between November 6, 2015 and June 3, 2022).

In the 12-month term, the Euribor rose 0.012 points to 3.368% from 3.356% in the previous session.

After shooting up on April 12 to 0.005% for the first time positive since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.

The average 12-month Euribor advanced from 2.828% in November to 3.018% in December.

The three-month Euribor, which entered positive territory on July 14 for the first time since April 2015, fell 0.010 points to 2.482%, after having settled at 2.492% on Friday.

The three-month Euribor rate was negative between April 21, 2015 and last July 13 (seven years and two months).

The average three-month Euribor rose from 1.825% in November to 2.063% in December.

Euribor rates started to rise more significantly since February 4, after the European Central Bank (ECB) admitted it might raise key interest rates this year due to rising inflation in the Eurozone and the trend was reinforced with the start of Russia’s invasion of Ukraine on February 24.

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