The Euribor rate fell today to three and six months and rose to 12 months, for the sixth consecutive session, to a new maximum since December 2008, when it was set at 3,579%.
The 12-month Euribor rate, which is currently the most used in Portugal for variable rate housing loans, rose today, being set at 3,579%, plus 0,007 points, a new high since December 2008.
According to the Bank of Portugal, the 12-month Euribor already represents 43% of the 'stock' of loans for permanent home ownership with variable rate, while the six-month Euribor represents 32%.
After having shot up on April 12th to 0,005%, for the first time positive since February 05th, 2016, the 12-month Euribor has been in positive territory since April 21st.
The 12-month Euribor average increased from 3,018% in December to 3,338% in January, plus 0,320 points.
On the other hand, within six months, the Euribor rate, which entered positive territory on June 06th, dropped today to 3,192%, minus 0,020 points, against 3,212% on February 17th, a new maximum since December 2008 .
The six-month Euribor was negative for six years and seven months (between November 06, 2015 and June 03, 2022).
The six-month Euribor average rose from 2,560% in December to 2,864% in January, plus 0,304 points.
The three-month Euribor, which entered positive territory on July 14 for the first time since April 2015, also dropped today, being set at 2,654%, minus 0,013 points, after rising to 2,703% on February 16, a new high since January 2009.
The three-month Euribor rate was negative between 21 April 2015 and 13 July last (seven years and two months).
The three-month Euribor average rose from 2,063% in December to 2,354% in January, that is, an increase of 0,291 points.
The Euribor began to rise more significantly since February 4, 2022, 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 start of Russia's invasion of Ukraine on February 24, 2022.
At the last 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 down the pace of increases in relation to the two previously recorded , which were 75 basis points, respectively on 27 October and 8 September.
On July 21, the ECB increased, for the first time in 11 years, by 50 basis points, the three main interest rates.
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.
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.
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