Euribor descended this Tuesday to three, six and 12 months for new minimums since, respectively, January 2023 and November and September 2022.
With today’s changes, the rate at three months, which lowered to 2.324%, was above the rate at six months (2.309%) and the rate at 12 months (2.277%).
The Euribor rate at six months, which spent in January 2024 to be the most used in Portugal in the housing credits with variable rate, retreated today, being set at 2.309%, less 0.027 points and a new minimum since 17 November 2022.
Banco de Portugal (BDP) data for January indicates that Euribor at six months represented 37.75% of loan stocks for permanent housing with variable rate. The same data indicates that the Euribor at 12 and three months represented 32.52% and 25.57%, respectively.
Within 12 months, the Euribor rate also retreated to 2.277%, less 0.029 points and a new minimum since September 16, 2022.
In the same vein, the Euribor for three months, which has been below 2.5% since March 14, dropped today, being fixed at 2.324%, less 0.012 points and a new minimum since January 12, 2023.
In monthly terms, the Euribor average in March again went down to three, six and 12 months, but less intensely than in the previous months.
The average of Euribor to three, six and 12 months in March went down 0.083 points to 2.442% to three months, 0.075 points to 2.385% to six months and 0.009 points for 2.398% to 12 months.
As anticipated by markets, the ECB decided in March decided, for the fifth time in a row by six months, the interest rates in a quarter of point to 2.5%.
The President of the ECB, Christine Lagarde, hinted that the institution is prepared to interrupt the cuts of interest rates in April.
The next ECB monetary policy meeting will take place on April 16 and 17 in Frankfurt.
Euribor are fixed by the average rates to which a set of 19 euro zone banks are willing to lend money to each other in the interbank market.
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