Euribor rises to 3 months, to a new high, to 12 months and falls to 6 months.

The Euribor rate rose this Monday to three and 12 months, in the shortest period to a new high, and fell to six months after average rates across all maturities rose again in March compared to February.

The average Euribor rates rose to 2.911% in three months, 3.267% in six months and 3.647% in 12 months, which means an increase of 0.271 percentage points, 0.132 points and 0.113 points respectively compared to February.

The 12-month Euribor rate, which is currently the most commonly used variable rate home loan in Portugal, rose today to 3.651% plus 0.029 points from the 3.978% high since November 2008, confirmed on 9 March.

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.

The 12-month average Euribor rose from 3.534 in February to 3.647% in March, plus 0.113 points.

Within six months, the Euribor rate, which went into positive territory on June 6, today fell to 3.335%, minus 0.006 points, against a maximum since November 2008 of 3.461%, also confirmed on March 9.

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

The six-month average Euribor rose from 3.135% in February to 3.267% in March, plus 0.132 points.

On the other hand, the 3-month Euribor, which entered positive territory for the first time since April 2015 on July 14, rose today, settling at 3.053%, plus 0.015 percentage points, a new high since December 2008.

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

The three-month average Euribor rose from 2.640% in February to 2.911% in March, i.e. by 0.271 percentage points.

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 March 16, the ECB raised key interest rates once again by 50 basis points, the same increase as on February 2 and December 15, when it began to slow the pace of increases from the two previously recorded of 75 basis points. points, respectively, on October 27 and September 8.

On July 21, 2022, 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.