Euribor rates fall for three months, rise for 12 months and reach a new maximum for six months

Euribor rates fell today within the three-month period and rose to six and 12 months, with six months renewed for a maximum of 14 years.

The six-month Euribor rate, which is the most used in Portugal for housing loans and which entered positive territory on June 06, 2022, renewed the 14-year maximum by rising 0,017 points to 2,959%, ​​against 2,942% on Friday -fair.

On the 25th of January, the six-month Euribor had reached a maximum when it settled at 2,928%.

The six-month Euribor average rose from 2,321% in November to 2,560% in December.

The six-month Euribor was negative for six years and seven months (between November 06, 2015 and June 03, 2022).

Within 12 months, the Euribor rose 0,012 points to 3,368%, against 3,356% in the previous session.

After rising to 12% on April 0,005, for the first time positive since February 05, 2016, the 12-month Euribor has been in positive territory since April 21.

The 12-month Euribor average increased from 2,828% in November to 3,018% in December.

The three-month Euribor, which entered positive territory on July 14 for the first time since April 2015, fell by 0,010 points to 2,482%, after having settled on Friday at 2,492%.

The three-month Euribor rate was negative between April 21, 2015 and July 13 last (seven years and two months).

The three-month Euribor average rose from 1,825% in November to 2,063% in December.

The Euribor began to rise more significantly since February 04th, after the European Central Bank (ECB) admitted that it could raise the main interest rates this year due to the increase in inflation in the euro zone and the trend was reinforced with the beginning of Russia's invasion of Ukraine on February 24.

At the last monetary policy meeting, on December 15, the ECB increased key interest rates by 50 basis points, thus slowing down the pace of increases in relation to the two previously recorded, which were 75 basis points, respectively, on October 27 and on September 08th.

On July 21, the ECB raised the three key interest rates by 11 basis points for the first time in 50 years.

The three-, six- and 12-month Euribor rates registered all-time lows, respectively, -0,605% on December 14, 2021, -0,554% and -0,518% on December 20, 2021.

The Euribor are fixed by the average of the rates at which a group of 57 banks in the eurozone are willing to lend money to each other in the interbank market.