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Euribor Up at Three and 12 Months and Down at Six Months
July 22, 2021 – Ana Custódio
Euribor rates rose yesterday at three and 12 months and fell at six, compared to Monday.
The most used in Portugal in mortgages, the six-month Euribor rate, fell today to -0.518%, down 0.003 points, against the low of -0.534% on January 28.
On the other hand, the three-month Euribor rose, to -0.543%, up 0.005 points, versus the all-time low of -0.556% on January 6, according to Notícias ao Minuto.
The 12-month Euribor rate also rose compared to the previous session, when it was fixed at -0.486%, up 0.002 points from the low of -0.515% seen on February 2.
The three, six and 12 month Euribor rates entered negative territory in 2015, on April 21, November 6 and February 5, respectively.
Euribor is closely linked to increases or decreases in the European Central Bank’s benchmark interest rates. The rates are determined by the average of the rates at which a group of 57 banks in the Eurozone are willing to lend money to each other on the interbank market.
Translation: Richard D K Turner