Euribor rates ease again across all maturities

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The Euribor, which serves as the basis for calculating the house installment, fell in the main terms, remaining below 4%.

• A taxa Euribor 12 monthscurrently the most used in Portugal in housing loans with variable rates, dropped to 3.655%0.023 points less than on Monday, after having increased on September 29 to 4.228%, a maximum since November 2008.
• No six month period, the Euribor rate also fell to 3.882%0.026 points less than in the previous session, against the maximum since November 2008, of 4.143%, recorded on October 18th.
• In the same sense, the Three-month Euribor decreased to 3,901%minus 0.011 points and after having risen on October 19 to 4.002%, a new maximum since November 2008.

The Euribor average in January fell again in all three maturities, but less sharply than in December.

The Euribor average in January fell 0.010 points to 3.925% for three months (compared to 3.935% in January), 0.035 points to 3.892% for six months (compared to 3.927%) and 0.070 points to 3.609% for 12 months (compared to 3.679%) .

In December, the Euribor average fell 0.037 points to 3.935% for three months (compared to 3.972% in November), 0.138 points to 3.927% for six months (compared to 4.065%) and 0.343 points to 3.679% for 12 months (compared to 4.022% ).

At the most recent monetary policy meeting, on January 25, the European Central Bank (ECB) maintained reference interest rates for the third consecutive time, after ten increases since July 21, 2022. The ECB’s next monetary policy meeting takes place on March 7.

Euribor began to rise more significantly from February 4, 2022, after the ECB admitted that it could raise key interest rates due to the increase in inflation in the Eurozone and the trend was reinforced with the start of the invasion of Ukraine by Russia on February 24, 2022.

The three-, six- and 12-month Euribor rates recorded all-time lows, respectively, of -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.

Euribor is set by the average of the rates at which a group of 19 Eurozone banks are willing to lend money to each other in the interbank market.