If the average rate for a 20-year home loan settles above 4% in January, some borrowers can benefit from rates falling below this bar.
After a particularly complicated year 2023 for banks and borrowers, with real estate loan rates increasing on average over 20 years from 2.3% to 4.3% between January and December 2023, the start of 2024 marks a first downward trend. In January, according to the broker Meilleurtaux, the 20-year credit rate was 4.05% and 4.20% on the longest loans.
According to figures revealed Thursday by the CSA/Crdit Logement Observatory, in December, the 25% of the most privileged borrowers had a rate of 3.83% on average over 20 years compared to 4.61% for the worst profiles.
The borrowers who can hope to have the best rate do not change: they are those with comfortable incomes, a personal contribution and residual savings after the project. For example, wealthy customers with a very good profile, who have savings with the bank, will be able to benefit from rates below 4%. For example, the Cafpi broker displays rates 3.59% over 20 years and 3.89% over 25 years for clients with the best records.
The best particularly pampered profiles
Beyond the scales they display, some banks tell us that additional discounts are possible for files they consider interesting, explained Mal Bernier, communications director for the Meilleurtaux broker, MoneyVox, at the start of the year. The most significant drops (in rates) are observed on the best files. Selectivity remains relevant for the moment, Emprunt Direct detailed in a press release at the beginning of January.
For how long? Rates could soon drop for everyone. Thus, during a press conference organized on January 15, the broker Pretto put forward a scenario where credit rates would return to around 3% by the end of 2024.
Real estate credit: rates of 3% in 2024, a possible scenario?