May should bring some relief in house payments for those with variable rate contracts with three, six and 12-month Euribor and revision scheduled for next month, according to simulations by DECO PROteste for Notícias ao Minuto. 

At issue are 4.32 euro decreases in contracts with six-month Euribor and 3.65 euros in those that have contracted the three-month Euribor, in a scenario of financing 150 thousand euros at 30 years and spread 1%.

In the case of 12-month Euribor, the payments should still see a decrease in the amount of 4.87 euros. 

May payment (April Euribor average):

• Scenario 1 (6M Euribor average of 3.838%): 790.45€
• Scenario 2 (3M Euribor average of 3.885%): 794.72€
• Scenario 3 (12M Euribor average of 3.703%): 778.23€

Values of the last revisions according to the respective maturities:

• Scenario 1: (6M Euribor average of 4.115%): 815.81€ – November 2023
• Scenario 2: (3M Euribor average of 3.925%): 798.37€ – February 2024
• Scenario 3: (12M Euribor average of 3.757%): 783.10€ - May 2023

The Euribor rate fell today to three, six and 12 months compared to Monday, in the two shortest terms to lows since October and July 2023, respectively.

With today's changes, the three-month Euribor, which fell to 3.825%, remains above the six-month rate (3.795%) and the 12-month rate (3.696%).

The six-month Euribor rate, which became the most used in Portugal in variable rate housing loans and which was above 4% between September 14 and December 1, fell today to 3.795%, down 0.020 points and a low since July 2023, after having advanced on October 18 to 4.143%, a high since November 2008.

Data from the Banco de Portugal (BdP) for February indicate the six-month Euribor as the most used, representing 36.6% of the 'stock' of loans for permanent own housing with variable rate. The same data indicate that the 12 and three-month Euribor represented 34.7% and 24.6%, respectively.

Read Also: Euribor falls to three and six months to lows since October and July (Portuguese version)