The rise in loan rates is still less significant at the beginning of November compared to recent months, according to real estate loan experts. One bank even lowered rates in one region. But it is too early to consider further downward movement.
Stable or slightly increasing and even decreasing
According to broker Vousfinancer, few banks have sent new scales, demonstrating their desire to keep their rates stable. Those that did either kept them unchanged or increased them, but less than in recent months: from 0.05 to 0.25%, compared to a 0.40% increase in previous months. The movement of rising rates therefore appears to be slowing…
One regional bank even reduced its rates from 0.10 to 0.20% depending on borrower profiles. The first since the summer of 2022, Vousfinancer points out.
Same story for broker Empruntis, which mentions rate increases between 0.10 and 0.40%, but rather rarely. “The slowdown in growth is more pronounced than in the previous two months. In fact, we already witnessed this in September and October, when the scales all increased, but with less amplitude, notes Cécile Roquelaure, director of studies at Empruntis. For this month of November, certain stable scales amplify this phenomenon. »
4.2% on average over 20 years
In November, loan rates average 4% for 15 years, 4.2% for 20 years and 4.50% for 25 years for Vousfinancer. At Empruntis, they average 4.15% over 15 years, 4.25% over 20 years and 4.35% over 25 years.
Offered loans of EUR 20,000 with 0%.
Several banks now offer a €20,000 zero-rate loan, which may or may not be supplemented by an official zero-rate loan (PTZ), helping to reduce the overall cost of the loan.
For example, for a first-time buyer who wants to finance a €200,000 purchase with a 10% down payment, the option to use a €20,000 zero-rate loan allows them to borrow €180,000 at 4%, with a total cost of €81,700 compared to €90 €800 without this PTZ, a saving of €9,000 and the equivalent of a 0.35% rate reduction.
Lower interest rates are rising, a sign that rate hikes are slowing
The new usury rates for the month of November, published at the end of October, are very slightly lower for credit terms of less than 10 years or longer, but less than in previous months. For durations of 20 years and over, they rose 0.11 points after rising 0.20 to 0.25 points each month since their monthly revision on 1ahem FEBRUARY.
“Since January, usury rates have increased by more than 2.3 points, which has resulted in a reduction in the number of rejected files for exceeding this ceiling rate, which is very positive. But they also contributed to the increase in lending rates,” notes Julie Bachet, CEO of Vousfinancer.
In a month, the monthly review should end, with the attrition rate expected to reach 6% in 20+ years. “A cap rate that allows banks to make the loans they make profitable…” he says.
Towards a ceiling in rate hikes?
“We feel a positive development in the desire of several of our banking partners to lend again to new banks, which regularly announce the relaxation of their conditions,” emphasizes Julie Bachet. The return of this interbank competition is helping to stabilize rates, but it is too early to tell of a decline. Especially since some banks, on the other hand, offer rates higher than 5% or discourage rates for less good profiles, thereby selecting the borrowers they agree to finance…”
Moreover, the fact that the European Central Bank (ECB) announced the status quo on its key rates in November is also a positive sign, assuming this decision will continue in the coming months…