The three, six, and 12-month Euribor rates fell compared to Monday, but March ends with the monthly average rising significantly across all three terms. Following Tuesday's changes, the three-month rate dropped to 2.079%, remaining below the six-month (2.475%) and 12-month (2.870%) rates. The monthly average for March rose across all terms, most sharply in the longer ones. The three-month average rose 0.098 points to 2.109%, while the six-month and 12-month averages increased by 0.178 points to 2.322% and 0.344 points to 2.565%, respectively. The six-month rate, now the most common in Portugal for variable-rate mortgages, fell 0.054 points today. Bank of Portugal data from January shows the six-month rate accounts for 38.93% of variable-rate home loans, with 12-month and three-month rates at 31.78% and 24.98%. On March 19, the ECB maintained its key interest rates for the sixth consecutive meeting. The next meeting is scheduled for April 29-30 in Frankfurt.
Euribor rate falls but March average soars across all three maturities
Tuesday, 31 March 2026RSS
Context & Explainers
Euribor (Euro Interbank Offered Rate) is the benchmark interest rate at which European banks lend to one another and is widely used as the reference for variable‑rate mortgages in Portugal. Changes affect monthly payments directly: the recent figures reported were 2.034% (3‑month), 2.104% (6‑month) and 2.255% (12‑month), so a rising Euribor typically increases costs for borrowers with tracker or variable loans.
