An increase of 0.20% on average, sometimes more, and mortgage rates that no longer fall below 2% with some brokers. Despite the recent increase in the rate of wear, applicants for credit could still experience difficulties in obtaining financing.
For a lull in the real estate credit sector, we will have to wait a little longer. While the summer had been rather calm, the recent rise in the usury rate from 2.57% to 3.05% for loans of 20 years and over will make banks move, determined to revise their scales upwards.
During the summer, the 20-year average rose from 1.90% to 1.95%, recalls Ccile Roquelaure, spokesperson for the broker Empruntis. But the increase is in order for the barmes of October. We have an average increase of 20 basis pointswith establishments that are above, with increases up to 0.30%.
+0.20% on average
A trend confirmed by Sandrine Allonier, spokesperson for the broker Vousfinancer, who explains that unsurprisingly, all barmes received for October show rate increases, from 0.20 to 0.40 points.
Thus, on average, a mortgage applicant can expect a loan 2.01% over 20 years according to Meilleurtaux, against 1.92% a month earlier. And for longer terms, the average rate offered by Meilleurtaux’ banking partners was 2.19%, compared to 2.07% in September.
Average rates in banks at the beginning of October
- On 15 years old: 1.70% according to The Partner; 1.80% for Loans; 2.23% according to Pretto; 1.86% for Meilleurtaux.
- On 20 years: 1.78% according to The Partner; 1.90% for Loans; 2.14% according to Pretto; 2.01% for Meilleurtaux.
- On 25 years: 1.94% on average according to Le Partenaire; 2.05% for Loans; 2.17% according to Pretto; 2.19% for Meilleurtaux.
Average rates noted by the brokerage networks, based on the scales provided by the banks. They do not take into account the cost of borrower insurance.
A general increase which could continue in the coming weeks, since certain partner establishments of Empruntis are reporting the possibility of increasing their rates height of wear rate risean increase of 48 basis points.
Real estate credit: the wear rate passes the 3% mark, a breath of fresh air for borrowers
Thus, as in September, some banks will make efforts to attract new customers, while others will have no other choice but to continue to develop their standards. We must take into account the terms of refinancing, explains Ccile Roquelaure. A bank with a lot of savings in accounts or a lot of equity will be less impacted. According to Empruntis, banking establishments are moreover increasingly attentive to residual savings borrowers after the project.
save up to 70% on your borrower insurance
Indeed, the French debt rate, the French 10-year OAT, which serves as a benchmark for banks to set their credit rates, reached 2.72% on Monday, a level not seen since June 29, 2012 (2. 72%). However, the more the OAT rises, the more the banks obliged to finance themselves on the markets are likely to revise their rates upwards. For all credit applicants, it is therefore better to present your file quickly.
Compare real estate rates