The same story for almost 2 years. Last month, the average mortgage rate increased again, reaching 4.12%. “The increase is now twice as strong as last year at the same time,” notes the Crédit Logement CSA Observatory in its study published this Thursday, November 2. The now monthly revaluation of the usury rate – the maximum rate at which banks are authorized to lend – but also the sharp increase in the refinancing cost of the European Central Bank – increased from 2.50 to 4.50% in less than a year – have encouraged banks to significantly raise their rates.
But at what cost to households? Among financially comfortable borrowers, able to restrict their loan to a period limited to 20 years, 50% must assume a rate higher than 4.25%. Over the longest loan term, 25 years, this ratio rises to 75%. These rates “can even go beyond 4.73% for borrowers with the least personal contribution”, underlines the study. The effective bar of 5% is therefore fast approaching. “We have to go back to spring 2011 to observe a comparable rate configuration,” compares the Observatory.
To get their files through, borrowers have logically increased the repayment period of their credit. Last month, almost two thirds – 63.7% – of real estate loans were signed for longer terms (…)
Real estate loan: 50% of loans over 20 years are taken out at more than 4.25%
Real estate: the cities where rents are increasing the most in 2023
Real estate: the cities where rents are increasing the most in 2023
Tenants install solar panels, landlord wants to evict them
Tenants install solar panels, landlord wants to evict them
2023-11-02 18:37:29
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