Euribor movements were mixed on Thursday: the three‑month rate rose, the six‑month rate fell (to about 2.137%) and the 12‑month rate stayed unchanged, ECO reports. Separately, RTP says the average mortgage interest rate for new loans fell to 3.111% in January. Homeowners with variable or recently indexed mortgages should check which Euribor term their loan follows, since short‑term swings can change monthly payments.
Euribor mixed; mortgage rate average 3.111%
Thursday, 19 February 2026AI summary
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.
