The Euribor rate decreased today for three months and increased for six and 12 months compared to Wednesday.
Following today’s changes, the three-month rate, which dropped to 1.980%, remained below the six-month (2.109%) and 12-month rates (2.179%).
The six-month Euribor rate, which became the most used in Portugal for variable-rate home loans starting January 2024, increased today to 2.109%, up by 0.006 points from Wednesday.
Data from the Bank of Portugal (BdP) in July indicated that the six-month Euribor accounted for 37.96% of the stock of variable-rate housing loans for permanent residence.
The same data showed that the 12-month and three-month Euribors represented 32.09% and 25.51%, respectively.
For the 12-month term, the Euribor rate also increased, reaching 2.179%, a rise of 0.008 points.
Conversely, the three-month Euribor, which has been below 2% since September 23, fell to 1.980%, down by 0.013 points.
On Tuesday, the Euribor fell below 2% for the first time since August 6.
On September 11, the European Central Bank (ECB) maintained its key rates for the second consecutive monetary policy meeting, as anticipated by the markets, following eight reductions since the entity began this cycle of cuts in June 2024.
The next ECB monetary policy meeting will take place on October 29 and 30 in Florence, Italy.
In August, the monthly averages for the Euribor increased across all three terms, most significantly for three months.
The average Euribor in August rose by 0.075 points to 2.021% for three months and by 0.029 points to 2.084% for six months.
For 12 months, the Euribor average increased in August, specifically by 0.035 points to 2.114%.
The Euribor rates are determined by the average rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
