The Euribor rates, which serve as the basis for calculating home loan repayments, rose at three, six, and 12 months, with the two longer terms reaching their highest levels since February 2025 and October 2024, respectively. The six-month Euribor rate advanced to 2.468%, up 0.062 points from the previous session.
Euribor rates rise at 6 and 12 months to highs of over a year
Monday, 23 March 2026RSS
Context & Explainers
Euribor (Euro Interbank Offered Rate) is the benchmark interest rate at which major European banks lend to each other. It directly affects most variable-rate mortgages in Portugal, where the vast majority of home loans are indexed to 3-month, 6-month, or 12-month Euribor rates.
When Euribor rises, monthly mortgage payments increase at the next review date; when it falls, payments decrease. The European Central Bank's (ECB) monetary policy decisions are the primary driver of Euribor movements — rate hikes push Euribor up, while cuts bring it down.
Euribor peaked above 4% in late 2023 after aggressive ECB tightening, then gradually declined through 2024–2025 as the ECB began cutting rates. Portuguese homeowners with variable-rate mortgages should track Euribor trends and their mortgage review dates to anticipate payment changes.
