buying Real estate credit: The maximum rate for a loan at 20 years will exceed 3% on October 1

20:00  28 september  2022
20:00  28 september  2022 Source:   lefigaro.fr

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Davantage de ménages auront accès au crédit immobilier. © Paegag / Stock.adobe.com more households will have access to mortgage.

This is good news for all those who have a real estate project. The rate of wear, that is to say the maximum threshold beyond which financial institutions are not allowed to lend, will increase significantly on October 1. This rate will thus go from 2.60% to 3.03% for loans under 20 and 2.57% to 3.05% for loans over 20 years old, the Banque de France announced on Wednesday. "This will allow you to settle certain more difficult situations to access the credit noted in recent weeks" , ensures the institution, which sets the wear rate -understanding credit, insurance, deposit, file fees, each quarter ... .

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Given the sharp increase in interest rates since the start of the year, more and more real estate credits were refused , because it is greater than the wear rate, revised every three months. A device that aims to protect borrowers.

An upturn that may not last

"This increase, stronger than expected, should unlock loan requests at rates of up to 2.4% before insurance" , explains Sandrine Allonier, spokesperson for the broker You finance you. They had not passed so far. “A large number of borrowers are likely to be concerned : credits over 15 years are negotiated on average between 1.75% and 2% (excluding insurance) and those over 20 years between 1.85% and 2 , 4% (excluding insurance). Highlight rates compared to the beginning of the year, but which still remain advantageous, in particular during this period of high inflation (5.9% in August).

But the embellished for borrowers may not last, because the rates of real estate credits should continue to climb in October. In fact, the rate of the French state loan, the OAT at 10, on which real estate loans are indexed on Wednesday 2.77%. And this trend may continue.

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Real estate prices fall in Bordeaux and the trend should last .
© Franck Dubray / Archives Ouest-France Real estate prices have tend to drop for several weeks in major French cities. Illustration photo. Real estate prices have started to fall in the majority of major French cities. This is the case in Bordeaux with a drop of 0.8% over a month, according to the indices noted no better agents - "Les Echos" on November 1, 2022. The increase in interest rates, inflation and hardening Loan granting conditions partly explain this trend. It couldn't last forever.

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