Euribor hit new near 15-year highs. The 12-month interest rate is close to 4% | Euribor

The three-, six- and 12-month Euribor rate rose today to new highs since November 2008. The 12-month Euribor rate, which is currently the most widely used in Portugal for variable-rate mortgages, rose today as set to 3.978%, plus 0.034 points, a new high since November 2008.

According to the Bank of Portugal, the 12-month Euribor already represents 43% of the “stock” of floating-rate permanent home ownership loans, while the six-month Euribor represents 32%. After jumping on 12 April 2022 to 0.005%, for the first time positive since 5 February 2016, the 12-month Euribor has been in positive territory since 21 April 2022. The average 12-month Euribor rose from 3.338% in January to 3.534% in February, plus 0.196 points.

The six-month Euribor rate, which entered positive territory on June 6, also rose today to 3.461%, 0.010 points higher than on Wednesday and a new high since November 2008. Six-month Euribor has been negative for six years and seven months (between November 6, 2015 and June 3, 2022). The six-month average Euribor rose from 2.864% in January to 3.135% in February, plus 0.271 points.

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