Euribor rates rose this Thursday, September 10, at three and six months, with the six-month rate reaching a new high since November 2024, set at 2.806%. The three-month rate advanced to 2.643% and the 12-month rate remained at 3.138%, a value representing a high since August 2024. The six-month Euribor became the most used in Portugal in variable-rate housing loans as of January 2024, representing 39.87% of the loan stock for primary residence, according to data from the Bank of Portugal for July.
The European Central Bank is expected to announce today a new 25 basis point increase in key interest rates for the upper limit of the neutral zone. In June, the ECB had raised rates for the first time since September 2023, after keeping them unchanged in April for the seventh consecutive meeting and following eight cuts since it began the easing cycle in June 2024.
In August, the monthly average of Euribor rose again at three, six and 12 months, with greater intensity than in July and more markedly in the longer term. The three-month average rose 0.088 points to 2.513%, the six-month average advanced 0.066 points to 2.713%, and the 12-month average increased 0.099 points to 2.954%. Euribor rates are set by the average of the rates at which a group of 21 banks in the eurozone is willing to lend money to each other in the interbank market.
