Following today’s adjustments, the three-month Euribor rate, which rose to 2.049%, remained below the six-month rate (2.118%) and the 12-month rate (2.104%).
The six-month Euribor rate, which became the most utilized in Portugal for variable-rate home loans as of January 2024, increased today, reaching 2.118%, a rise of 0.005 percentage points.
Data from the Bank of Portugal (BdP) for March show that the six-month Euribor accounted for 37.65% of the stock of variable-rate loans for permanent home acquisition.
The same data reveal that the 12-month and three-month Euribor represented 32.39% and 25.67%, respectively.
In the 12-month term, the Euribor rate also climbed, setting at 2.104%, an increase of 0.020 percentage points from Wednesday.
Similarly, the three-month Euribor, which has remained below 2.5% since March 14, reversed the trend of the last seven sessions and advanced to 2.049%, a rise of 0.003 percentage points.
In April, the average monthly Euribor rates decreased significantly across all three terms, more sharply than in previous months, with the most pronounced drop in the 12-month term.
The monthly averages for Euribor in April fell by 0.193 points to 2.249% for three months, 0.183 points to 2.202% for six months, and by 0.255 points to 2.143% for 12 months.
On April 17, at the last monetary policy meeting, the European Central Bank (ECB) lowered the key interest rate by a quarter-point to 2.25%.
This reduction, anticipated by the markets, marked the seventh cut since the ECB began this cycle of rate reductions in June 2024.
The next ECB monetary policy meeting is scheduled for June 5 and 6 in Frankfurt.
The Euribor rates are set by averaging the rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
