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Euribor rate falls to 12-month low since April
The Euribor rate remained today at three months and dropped at six and 12 months, in the longest term, to a new minimum since April, compared to Wednesday, and remained below 4% in the three terms.
With today’s changes, the three-month Euribor, which remained at 3.916%, was above the six-month rate (3.899%) and the 12-month rate (3.582%).
The 12-month Euribor rate, currently the most used in Portugal in housing loans with variable rates and which was above 4% between June 16th and November 28th, dropped today to 3.582%, 0.020 points less than on Wednesday. fair and a new minimum since April, after having risen on September 29 to 4.228%, a new maximum since November 2008.
According to BdP data for October 2023, the 12-month Euribor represented 37.8% of the stock of loans for permanent home ownership with variable rates. The same data indicates that the six- and three-month Euribor represented 35.9% and 23.6%, respectively.
Within six months, the Euribor rate, which was above 4% between September 14th and December 1st, also fell today, to 3.899%, 0.025 points less than in the previous session and against the maximum since November 2008, from 4.143%, recorded on October 18th.
The three-month Euribor remained today compared to the previous session, being set again at 3.916%, after having risen on October 19th to 4.002%, a new maximum since November 2008.
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.
At its most recent monetary policy meeting, on Thursday, the ECB maintained its benchmark interest rates for the second (consecutive) time since July 21, 2022.
The ECB’s next monetary policy meeting, which will be the first in 2024, will take place on January 25.
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 banks in the euro zone are willing to lend money to each other in the interbank market.
Lusa
