The Euribor declines across all three maturities, with the three-month rate below the others, reflecting recent developments in interbank markets.
Source: Adobe Stock
Author: Redaction
Euribor rate falls to three, six and 12 months
The Euribor fell this Thursday across the three main maturities, reinforcing the adjustment trend in interbank markets. The three-month Euribor fell to 2.238%, remaining below the six- and 12-month rates. The six-month rate stood at 2.453% and the 12-month rate at 2.723%.
The evolution of the Euribor confirms a slight decline compared with the previous session, with a stronger impact in the short term. In the case of the three-month rate, the Euribor fell by 0.002 points, while the six-month rate lost 0.015 points and the 12-month rate fell by 0.033 points. These movements reflect the most recent behaviour of the European money market.
Euribor six-month rate maintains leadership in mortgage lending
The six-month Euribor continues to be the most used rate in Portugal in variable-rate home loans, representing around 39.18% of the stock of loans. Despite the recent decline, the Euribor remains the dominant benchmark in this segment.
According to recent data from Banco de Portugal, the 12-month Euribor represents 31.73% of loans, while the three-month rate accounts for 24.79%. This distribution shows the ongoing relevance of the Euribor in mortgage contracts in Portugal, especially in the intermediate maturity.
The evolution of the six-month Euribor is particularly relevant for many households, as it directly influences monthly payments in most variable-rate contracts.
ECB and outlook for Euribor developments
The Euribor’s trajectory is directly linked to the decisions of the European Central Bank. At the latest monetary policy meeting, the ECB kept interest rates unchanged for the sixth consecutive time, following a cycle of cuts that began earlier.
This stability contributes to the recent moderation of the Euribor, although markets remain attentive to upcoming decisions. The next ECB meeting could be decisive for the future evolution of the Euribor, especially at longer maturities.
The monthly average of the Euribor in March recorded increases across all three maturities, although more pronounced in the six- and 12-month tenors. This behaviour reinforces the controlled volatility of the Euribor in a context of adjustment in European monetary policy.
Euribor rates continue to be calculated based on the average rates at which 19 eurozone banks are willing to lend to each other in the interbank market, reflecting daily liquidity conditions and economic expectations.
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