Euribor rates climb to multi-year highs across three key maturities
The Euribor benchmark rose on Thursday for the three-month, six-month and twelve-month tenors, reaching levels not seen since late 2024 or early 2025.
Thursday saw the Euribor benchmark rise across its three main tenors - three months, six months and twelve months - each hitting the strongest levels recorded since late 2024 or early 2025. According to Banco de Portugal figures, the six-month Euribor now accounts for roughly 40 % of the outstanding variable-rate mortgage portfolio, with the twelve-month and three-month rates representing about 31 % and 24 % respectively.
The latest movements follow the European Central Bank’s decision on 23 July to leave its three key interest rates unchanged, a move that market participants expected ahead of the September policy meeting in Berlin. The ECB’s previous rate hike on 11 June was its first since September 2023. Euribor rates are calculated as the average of interbank lending offers from a panel of 21 euro-area banks.
