by The Euribor rate fell on Thursday by 0.169 points over three months, 0.146 points over six months and 0.303 points over 12 months compared to yesterday, after Tuesday’s biggest daily drop in three months.
On Tuesday, the Euribor rate fell by 0.204 percentage points for three months, 0.340 points for six months and 0.349 points for 12 months compared to Monday.
The 12-month Euribor rate, currently used in Portugal for variable-rate mortgages, reversed the trend of the last session today, settling at 3.359%, down 0.303 points and from its peak since November 2008 of 3.978% , verified March 9.
According to the Bank of Portugal, the 12-month Euribor already represents 43% of it stock of loans for permanent housing with a floating interest rate, 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, up 0.196 points.
Within six months, the Euribor rate, which entered positive territory on June 6, also fell today to 2.985%, down 0.146 points from a new high since November 2008 of 3.461%, also verified in March .
The six-month Euribor was negative for six years and seven months (between 6 November 2015 and 3 June 2022).
The six-month average Euribor rose from 2.864% in January to 3.135% in February, plus 0.271 points.
In the same sense, the three-month Euribor, which entered positive territory on July 14 for the first time since April 2015, fell today to 2.646%, down 0.169 points and against the peak since November 2008 of 2.978 %. , verified March 10.
The three-month Euribor rate was negative between 21 April 2015 and 13 July last (seven years and two months).
The average Euribor quarter rose from 2.354% in January to 2.640% in February, an increase of 0.286 points.
Euribor started to rise significantly from 4 February 2022 after the European Central Bank (ECB) admitted it could raise key interest rates this year due to rising inflation in the eurozone and the trend was strengthened by the start of Russia’s invasion of Ukraine on 24 February 2022. The ECB meets again today.
At its latest monetary policy meeting on February 2, the ECB once again raised key interest rates by 50 basis points, the same increase as on December 15, when it began to slow the pace of increases compared to the previous two, the which were 75 basis points on October 27 and September 8 respectively.
On July 21, the ECB raised its three main interest rates by 50 basis points for the first time in 11 years.
Three-, six- and 12-month Euribor rates hit historic lows, respectively, of -0.605% on 14 December 2021, -0.554% and -0.518% on 20 December 2021.
