As anticipated at the end of December, credit rates are almost stable at the start of January, or even falling in certain banking establishments. If they remain high, they no longer exceed 4.5% over the longest durations.
2024, the year of renewal for real estate credit? One thing is certain: after two years of continuous increases, the banking rates received by brokers at the beginning of January show a favorable trend for borrowers.
A reduction for all durations in certain establishments
The long period of sharp increases in mortgage rates appears to be coming to an end. Indeed, the rates, on long terms, negotiated by CAFPI for its clients for the month of December 2023, are experiencing their lowest increases over 2 years: 4.27% over 15 years compared to 4.15% (+12 cents ); 4.33% over 20 years compared to 4.32% (+1 cent) and 4.47% over 25 years compared to 4.46% (+1 cent). This confirms that the 5% level will probably not be reachedjudge CAFPI in his press release.
Real estate rates: what will change for your credit in 2024
For its part, the broker Emprunt Direct is much more optimistic, assuring in a press release that the scales transmitted at the end of December and the beginning of January by the partner establishments show a fairly clear drop in real estate loan rates, which ranges from around 20 to 40 basis points depending on loan maturities and file quality. After a clear decline in the progression of rates observed at the beginning of December, the yield curve now seems to be clearly bending in preparation for the new real estate year.
Average rates in banks at the beginning of January
- On 15 years: 4.10% according to Empruntis, 3.85% according to Meilleurtaux, 4.27% for Cafpi, 4.30% at Emprunt Direct.
- On 20 years: 4.25% according to Empruntis, 4.05% according to Meilleurtaux, 4.33% for Cafpi, 4.45% at Emprunt Direct.
- On 25 years: 4.40% according to Empruntis, 4.20% according to Meilleurtaux, 4.46% for Cafpi, 4.60% at Emprunt Direct.
Average rates observed by brokerage networks, based on scales provided by banks. They do not take into account the cost of borrower insurance.
However, not all borrowers are in the same boat. This new posture, until now marginal, tends to become generalized, even if the most significant drops are observed on the best files, the good files only benefiting for the moment from more limited drops, of the order of 10 points of base. Selectivity therefore remains essentialhowever details Emprunt Direct in its press release.
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