Back-to-School Real Estate Credit Rate Concerns


We had become accustomed to seeing real estate rates stagnate, or even decrease during the month of August, a period when transactions are rare. But this year, it is not so; the uptrend continues. The whole thing now is to know if the latter will remain relevant at the start of the school year. Brokerage experts each have their own opinion.

Rates have more than tripled

Brokerage experts scrutinize rate barometers provided by partner banks. Some then observe that the month of August is not immune to the upward trend, with an average increase of 20 to 25 basis points.

At the beginning of July, the average rate was 3.8%; today it is at 4%. On other networks, it even reaches 4.5% or 4.7%. These numbers mask growing differences between borrowers based on income, bank and location. According to an industry expert,

The rates for a loan over 20 years vary between 3.50% and 5.10%.
Today, a mortgage is posted on average at 3.6%, a rate to be compared to the 1% offered by the banks at the start of 2022.

Impact on household purchasing power

Despite a slight drop in real estate prices and stable wages, the ability of French people to buy real estate is decreasing due to the rapid rise in interest rates.

Rates will continue to rise

Contrary to the United Kingdom, most experts anticipate a continuation of the rise in rates. The 4% threshold has already been crossed, and they could reach 5% by the end of 2024. Some market players are forecasting a slight easing in September, with new potential offers for the purchase of new properties or renovation works. energy renovation.

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