Euribor rate rises to three, to six and to 12 months

Com today's changes, the three-month rate, which reached 2.324%, remained below the rates at six (2.638%) and 12 months (2.817%).

The six-month Euribor rate, which passed in January 2024 to be the most used in Portugal in variable rate housing credits, today rose by 0.007 points, setting at 2.638%.

Data from Banco de Portugal (BdP) for April indicate that six-month Euribor represented 39.56% of the ‘stock’ of loans for permanent own housing with variable rate.

The same data indicate that the 12-month and 3-month Euribors represented 31.53% and 24.55%, respectively.

Within 12 months, the Euribor rate also rose today to 2.817%, plus 0.008 points than the day before.

In the same sense, three-month Euribor advanced 0.011 points and was fixed at 2.324%.

At the June monetary policy meeting, the ECB decided for the first time since September 2023 to raise the principal rates, namely by 0.25 percentage points.

At the previous meeting on 30 April, the ECB maintained the principal rates for the seventh consecutive monetary policy meeting, as it had also been anticipated by the market and after eight reductions since the entity started the cycle of cuts in June 2024.

The ECB’s next monetary policy meeting will take place on 22 and 23 July 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.