By Andrea Hargraves 
Entity simulation shows that a customer who took out a loan of €150,000, with 30 years, indexed to Euribor for a period of six months and with a “spread” (bank profit margin) of 1%, starts paying from October 600.20 €, an increase of 146 EUR compared to the last revision in April.
In the case of a loan under the same terms (amount and amortization period), but indexed for three months Euribor, the customer will pay 555.25 euros, an increase of 89.08 euros compared to July of this year.
Finally, for loans indexed to Euribor for a period of 12 months, the mortgage payment for the loan under the above terms will be €651.41, an increase of €202.10 compared to October last year.
These values were calculated taking into account Euribor averages in September, of 1.596% at six months, 1.011% at three months and 2.233% at 12 months, according to Deco.
Today, on the last day of September, Euribor prices rose to three and six months and fell to 12 months compared to Thursday.
The six-month Euribor rate, the most used in Portugal for housing loans and which entered the positive zone on June 6, rose today to 1.809%, an increase of 0.009 points, after rising on Wednesday to 1.858%, the maximum since January 2009.
The three-month Euribor index, which entered the positive territory on July 14 for the first time since April 2015, also rose today, when it was set at 1.173%, up 0.013 points, after rising on September 27 to 1.228%, a new high. Since January 2012.
On the other hand, in 12 months, the Euribor index fell today, for the third time since September 9, when it was set at 2.556 percent, minus 0.022 points, versus 2.625% on September 27, which is the new maximum since February 2009.
Euribor began to rise further since February 4, after the European Central Bank (ECB) admitted that it may raise key interest rates this year due to high inflation in the euro area and this trend was reinforced with the beginning of the Russian invasion of Ukraine on February 24.
On September 8, the European Central Bank raised the three key interest rates by 75 basis points, the second consecutive increase this year, because on July 21, it raised the three key interest rates by 50 basis points, the first rise in 11 years, with the aim of curbing Curb inflation.
At the end of the last meeting, European Central Bank President Christine Lagarde said the historic 75 basis point hike in interest rates was not the “norm,” but stressed that the assessment would meet each meeting.
The evolution of interest rates on Euribor is closely related to increases or decreases in the key interest rates of the European Central Bank.
Euribor prices for three, six and 12 months recorded all-time lows, respectively, at -0.605% on December 14, 2021, and -0.554% and -0.518% on December 20, 2021.
Euribor is determined by the average rates at which a group of 57 eurozone banks are willing to lend money to each other on the interbank market.