Euribor rates, which serve as the basis for calculating mortgage payments, rose this Monday at three, six and 12 months, renewing two-year highs. The six-month Euribor reached 2.936%, up 0.116 points from Friday, while the 12-month rate advanced to 3.312%, up 0.152 points. The three-month Euribor also rose to 2.664%, up 0.017 points.
This rise occurs after the European Central Bank raised benchmark rates last Thursday, by 25 basis points, as expected by markets. It was the second rate rise carried out this year by the ECB, after it kept them stable in July.
The ECB justifies these rate rises with the need to curb inflation. The next monetary policy meeting of the central bank takes place on October 28 and 29 in Frankfurt.
Euribor rates are set by the average of the rates at which a group of 21 banks from the Eurozone is willing to lend money to each other in the interbank market.
