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Money Immobilier: Credit rates rose sharply in May

14:30  03 june  2020
14:30  03 june  2020 Source:   20minutes.fr

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The category that includes credit cards surged, rising at a rate of 9.8 percent in May after a tiny increase of 0.2 percent in April. The size of the increase caught economists by surprise, although they had been expecting a pickup from the sluggish performance in May , when the 1.1 percent rise in

Short-term interest rates rose sharply yesterday as comments by Paul A. Volcker, chairman of the Federal Reserve Board, about potential problems on the inflation front injected new anxiety into an already battered credit market. By late afternoon, the rate on three-month Treasury bills was 6.52

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Devant une publicité pour un crédit immobilier. © LIONEL BONAVENTURE / AFP In front of an advertisement for a mortgage. BANKING - Banks anticipate an unprecedented economic crisis since the Second World War

The average rate of real estate loans increased sharply in France in May, banks tightening their conditions in the face of the economic crisis of coronavirus , shows on Wednesday l 'monthly baseline study. Last month, the mortgage rates granted by the competitive sector averaged 1.25%, details in a press release the Crédit Logement / CSA observatory, which associates the main French banks with an institute marketing studies.

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Short- and long-term interest rates rose sharply yesterday as securities dealers speculated that the Federal Reserve might not continue to bring down economists as a harbinger of a stronger economy. The final blow to the credit markets was news of a larger-than-expected .9 billion increase in the

Short- and long-term interest rates rose sharply yesterday in response to statements by the chairman of the Federal Reserve, Paul A. Volcker, that In the Treasury bill market, Mr. Volcker's statement that the Fed's policy toward the provision of bank reserves ''has not changed since May '' was enough to

This is a clear increase compared to May (1.18%) and, more broadly, after months of evolution at a historic low, affected at the end of last year at 1.12%. The jump is a "response to the rise in risks and uncertainty over future macroeconomic and financial developments," the observatory said in a statement. In other words, the banks are taking less risk as a likely historic economic crisis takes hold, with the government now banking on an 11% recession this year.

Concerns for low-income households

Several credit brokers, as well as notaries, have already worried in recent weeks that the attitude of banks has hardened. They see this as a risk to the activity of the real estate market and the purchasing power of the less fortunate households, especially as prices do not stop their rise. Admittedly, "the rise in credit rates and the continued rise in house prices have (...) been partially offset by the longer terms," ​​notes the observatory.

Mortgage loan: sharp rise in rates in May

 Mortgage loan: sharp rise in rates in May © Rene Schmidt / EyeEm - Getty Images Mortgage loan: sharp rise in rates in May The average mortgage loan rate rose sharply in France in May, as banks tightened their conditions to the economic crisis of the coronavirus, point this Wednesday the monthly barometer of the observatory Credit Housing / CSA They continue their rise. In May, mortgage rates averaged 1.25%, details in a press release the Crédit Logement / CSA observatory, which brings together the main French banks.

Interest rates rose sharply yesterday as securities dealers aggressively cut prices to levels they hope will attract buyers at note and bond sales this week. Based on the auction results, banks and savings institutions may pay a top rate of 15.82 percent on new six-month money market certificates starting

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The average duration of home loans stood at 230 months in May, just over 19 years, and continues to reach historic levels. All of these figures must be put into perspective by the fact that they come from a very reduced level of activity following the crisis and the containment measures decreed against the coronavirus. Even though the containment was lifted on May 11, the number of new home loans fell by about 40% for the entire month compared to a year earlier.

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