The Euribor rose this Friday to three months and fell to six and 12 months, reversing the trend of the day before in the two longest maturities.
With these changes, the three-month rate, which increased to 3.022%, was even above the six-month rate (2.770%) and the 12-month rate (2.489%).
The six-month Euribor rate, which in January became the most used in Portugal for variable-rate mortgage loans and which was above 4% between September 14 and December 1, 2023, fell 0.008 this Friday points, up to 2.770%, after having reached a new low since December 30, 2022 (2.735%) on Monday.
Data from the Bank of Portugal (BdP) rSeptember data show that the six-month Euribor represented 37.26% of the ‘stock’ of loans for permanent home ownership with variable rates. The same data indicate that the 12-month and three-month Euribor represented 33.37% and 25.46%, respectively.
In 12 months, the Euribor rate, which was above 4% between June 16 and November 29, 2022, fell this Friday to 2.489%, 0.002 points less than on Thursday and after having reached a new level on Monday low since October 5, 2022 (2.432%).
The three-month Euribor rose this Friday to 3.022%, 0.017 points more than in the previous session. Last Friday, this rate had fallen to 2.998%, a new low since March 28, 2023.
The average Euribor fell in October at three, six and 12 months, with greater intensity than in September and with greater intensity in the shorter maturities.
On October 17, The ECB cut interest rates by a quarter point for the third time this year.the second in a row, up to 3.25%, given inflation that is considered “on the right track” and economic activity worse than expected.
Following the October 17 meeting in Slovenia, the ECB has scheduled the last monetary policy meeting of this year for December 12.
On September 18, it was the turn of the North American Federal Reserve (Fed) to cut interest rates by 50 basis points, in what was the first cut since 2020.
The Euribor is set by the average of the rates at which a group of 19 banks in the euro area are willing to lend money to each other in the interbank market.
Source: Observadora
