In theory, the 4% mark has now been exceeded for real estate rates. But some profiles still manage to obtain a credit of less than 4%. Who are these privileged people?
4% over 15 years, 4.20% over 20 years and 4.5% over 25 years. Here are the average rates sent by the banks to the Vousfinancer broker at the beginning of November. If the increase in real estate loan rates seems to be slowing down at the beginning of November compared to previous months, the 4% mark has now been exceeded over all periods and in the majority of banks. In its latest barometer, the broker Meilleurtaux reports that the average rate on offers said over the last 30 days, all durations combined, is 4%.
Real estate credit: finally good news for borrowers
So, is it possible to go below this 4% mark when taking out your real estate loan? Borrower profiles with the highest incomes can still obtain, in certain regions, very attractive rates which have not yet crossed the 4% threshold: 3.70% over 15 years; 3.90% over 20 years and 3.98% over 25 yearsreassures the Cafpi broker.
3.70% for the best profiles
The same goes for Ccile Roquelaure, spokesperson for the broker Empruntis, for whom good profiles can today borrow below 4% in certain banks. The lowest bar received by Empruntis in recent days shows a rate of 3.70% over 20 years, for very easy profiles. However, it is possible, depending on your file, to be offered an offer of 3.80% or 3.90%.
Real estate credit: will interest rates finally fall in 2024?
Those who fall below 4% are those who have incomes above the average in their region, who can make a 30% personal contribution and who have a little residual savings left after the project, explains Mal Bernier, director of communication from the Meilleurtaux broker.
All brokers especially highlight the end of generalities in terms of real estate credit. There is no longer a typical profile or a single rate, explains Cécile Roquelaure. Some banks also give indicative rates in the scales and offer a personalized rate after study of the file.
Towards a rate cut?
And even the average rate over 20 years, presently 4.20%, hides disparities: some banks still lend 4% while others report rates of 4.70% over the same period. For the first time in years, banks are starting to choose their segment again and the type of clients they finance, assures Cécile Roquelaure.
We will see if the banks are ready to make efforts, and on which profiles
And tomorrow? Against all expectations, a regional bank has today lowered its rates, from 0.10 to 0.20% depending on borrower profiles, a first since the summer of 2022, reports Vousfinancer. However, if rates stabilize, the general decline is not imminent, even if conditions improve for borrowers.
We feel a positive development in the willingness of several of our banking partners to lend again with new banks regularly announcing to us a loosening of their conditions. The return of this interbank competition contributes to the stabilization of rates, but it is too early to speak of a decline. Especially since some banks, on the contrary, offer rates of more than 5%, or dissuasive rates for less good profiles, thus selecting the borrowers they agree to finance, explains Julie Bachet, general director of Vousfinancer.
Banks are reopening and starting to think about their year 2024, concludes Mal Bernier. It will be interesting to see everyone’s positioning in the coming weeks. We will see if they are ready to make efforts, and on what profiles.
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