The six-month Euribor rate, which became the most used in Portugal for variable rate housing loans, fell today to 3.815%
The Euribor rate fell this Monday to three and six month lows since October last year and rose to 12 months compared to Friday.
With today’s changes, the three-month Euribor, which fell to 3.835%, remains above the six-month rate (3.815%) and the 12-month rate (3.726%).
The six-month Euribor rate, which became the most used in Portugal in housing loans with variable rates and which was above 4% between September 14th and December 1st, fell today to 3.815%, minus 0.020 points, after having advanced on October 18 to 4.143%, a new maximum since November 2008.
Data from the Bank of Portugal (BdP) for February indicate the six-month Euribor as the most used, representing 36.6% of the stock of loans for permanent home ownership with variable rates. The same data indicates that the 12-month and three-month Euribor represented 34.7% and 24.6%, respectively.
Within 12 months, the Euribor rate, which was above 4% between June 16 and November 29, rose today to 3.726%, 0.002 points more than in the previous session, against the maximum since November 2008, from 4.228%, recorded on September 29th.
Conversely, the three-month Euribor fell, being set at 3.835%, minus 0.030 points, after having risen on October 19 to 4.002%, a new maximum since November 2008.
At the last monetary policy meeting on April 11, the ECB maintained reference interest rates at the highest level since 2001 for the fifth consecutive time, after having made 10 increases since July 21, 2022.
The ECB’s next monetary policy meeting takes place on June 6 in Frankfurt.
