Euribor rates fall after 6 months and rise after 3 and 12 months to new highs Euribor in 12 months is already 43% of the “accumulation” of floating rate permanent housing loans.

The Euribor rose this Friday to three and 12 months, consolidating new highs in more than 14 years, and fell to three months from Wednesday.

The 12-month Euribor, which is currently the most commonly used variable rate home loan in Portugal, rose today to 3.826% plus 0.005 points, a new high since December 2008.

According to the Bank of Portugal, the 12-month Euribor already accounts for 43% of the “stock” of floating rate permanent home loans, while the six-month Euribor stands at 32%.

After rising to 0.005% on April 12, 2022, positive for the first time since February 5, 2016, 12-month Euribor has been in positive territory since April 21, 2022.

For six months, the Euribor rate, which went into positive territory on June 6, fell today to 3.353%, which is 0.013 points less than on Thursday.

The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).

The three-month Euribor, which entered positive territory for the first time since April 2015 on July 14, rose today to 2.849% plus 0.048 points and a new high since January 2009.

The three-month Euribor was negative between 21 April 2015 and 13 July last year (seven years and two months).

Euribor began to rise more significantly from February 4, 2022, after the European Central Bank (ECB) admitted that it could raise key interest rates this year due to rising inflation in the eurozone, and the trend accelerated with the start of Russia’s invasion of Ukraine on February 24 2022

At its most recent monetary policy meeting on February 2, the ECB once again raised key interest rates by 50 basis points, the same increase as on December 15, when it began to slow the rate of increase from the previous two. which amounted to 75 basis points on October 27 and September 8, respectively.

On July 21, the ECB raised three key interest rates by 50 basis points for the first time in 11 years.

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 on the basis of the average rate at which a group of 57 Eurozone banks are willing to lend money to each other in the interbank market.