The six-month Euribor rate, which in January 2024 became the most widely used in Portugal for variable-rate mortgage loans, remained unchanged, being set again at 2.104%.

Data from the Bank of Portugal (BdP) for October indicate that the six-month Euribor represented 38.5% of the stock of variable-rate loans for permanent owner-occupied housing.

The same data indicate that the 12-month and three-month Euribor represented 31.75% and 25.25%, respectively.

Over a 12-month period, the Euribor rate rose to 2.261%, 0.006 points higher than in the previous session.

Conversely, the three-month Euribor fell on 6 January to 2.026%, 0.008 points lower than on Monday.

Compared to the monthly average Euribor in December, it rose again at three, six, and 12 months, but more sharply in the longer term.

The monthly average Euribor in December rose 0.006 points to 2.048% at three months and 0.008 points to 2.139% at six months. At 12 months, the monthly average Euribor rose 0.050 points to 2.267%.

At its meeting on 18 December, the European Central Bank (ECB) kept its key interest rates unchanged for the fourth consecutive monetary policy meeting, as anticipated by the market and after eight reductions since the ECB began this cycle of cuts in June 2024.

The ECB's next monetary policy meeting will take place on 4 and 5 February in Frankfurt, Germany.

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