The Euribor rate fell this Thursday to three and six months, rose to 12 months compared to Wednesday and remained below 4% for three terms.
With Thursday’s changes, the three-month Euribor rate, which fell to 3.945%, remained above the six-month rate (3.907%) and the 12-month rate (3.697%).
The 12-month Euribor rate, which is currently the most commonly used rate in Portugal for home loans with variable rates and which stood at more than 4% between June 16 and November 28, rose this Thursday to 3.697%, up 0.002 points. than on Wednesday, after an increase on Thursday. September 29 to 4.228%, a new high since November 2008.
According to Bank of Portugal (BdP) data as of November 2023, the 12-month Euribor represented 37.4% of the volume of permanent homeownership loans with floating rates. The same data shows that the six- and three-month Euribor rates were 36.1% and 23.9% respectively.
For six months, the Euribor rate, which was above 4% between September 14 and December 1, fell this Thursday to 3.907%, which is 0.004 points less than in the previous session, against the maximum since November 2008, 4.143%, recorded October 18. .
The three-month Euribor rate fell this Thursday compared to the previous session, settling at 3.945%, minus 0.001 points, and after rising on October 19 to 4.002%, a new high since November 2008.
At its most recent monetary policy meeting on January 25, the European Central Bank (ECB) maintained benchmark interest rates for the third meeting in a row, following ten hikes since July 21, 2022.
The next ECB monetary policy meeting will take place on March 7.
More significantly, the Euribor began to rise on February 4, 2022, after the ECB acknowledged that it might raise key interest rates due to rising inflation in the eurozone, a trend that accelerated with the start of Russia’s invasion of Ukraine in February. 24, 2022.
Three-, six- and 12-month Euribor rates hit record lows respectively: -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.
Euribor is set as the average rate at which a group of 19 eurozone banks are willing to lend to each other in the interbank market.