Euribor goes down to three, six and 12 months

A euribor rate at six months, which went on in January 2024 to be the most used in Portugal in housing credits with variable rate, today reached 2.986%, minus 0.072 points compared to Friday.

Within 12 months, Euribor has dropped 0.137 points from Friday to 3.186%.

Euribor at three months also gave 0.001 points to 2.597%.

Data from Banco de Portugal (BdP) for August indicate that six-month Euribor represented 40.3% of the ‘stock’ of loans for permanent own housing with variable rate.

Euribors at 12 and 3 months represented 31.03% and 24.27%, respectively.

In June, the ECB had for the first time since September 2023, the principal rates, namely 25 basis points, after maintaining them in April, by the seventh consecutive meeting and eight reductions since the entity started the cycle of cuts in June 2024.

The ECB’s next monetary policy meeting will take place on 28 and 29 October in Frankfurt.

Euribors are set by the average rates at which a set of 21 euro area banks are willing to lend money to each other in the interbank market.