With the 5 June changes, the three-month rate advanced to 2.311%, but remained below the six-month (2.588%) and twelve-month (2.851%) rates.

The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans in January 2024, rose today to 2.588%, 0.039 points higher than on Wednesday.

Data from the Bank of Portugal (BdP) for March indicate that the six-month Euribor accounted for 39.41% of the stock of variable-rate loans for primary residences.

The same data indicate that the 12-month and 3-month Euribor rates were 31.62% and 24.65%, respectively.

Similarly, the 12-month Euribor rate rose today to 2.851%, 0.050 points higher than in the previous session.

The three-month Euribor rate also advanced today, being fixed at 2.311%, 0.012 points higher, hitting a new high since 7 April 2025 (2.362%).

The monthly average of the Euribor rate rose again across all three terms in May, but less sharply than in April.

In May, the three-month Euribor rate's monthly average rose by 0.051 percentage points to 2.226%.

The average Euribor rates for six- and twelve-month tenors rose by 0.082 points to 2.536% and by 0.057 points to 2.804%, respectively.

On 30 April, at its second meeting since the start of the war, the ECB maintained its key interest rates for the seventh consecutive time, as anticipated by the market, following eight reductions since the institution began its rate-cutting cycle in June 2024.

The market anticipated the maintenance of key rates but predicts an increase at the next ECB monetary policy meeting, scheduled for 10 and 11 May in Frankfurt, Germany.

Euribor rates are set by averaging the rates at which a group of 19 banks in the eurozone are willing to lend money to each other in the interbank market.