The real estate market is about to end a historic year.
Not in terms of sales even if, barring disaster, 2022 will ultimately not be so far from the 2021 record (around 1.2 million transactions).
But rather concerning the credit rate.
In one year, it doubled.
Unheard of in such a short period!
At the beginning of 2022, it was possible to borrow at less than 1% over 20 years to acquire housing.
Today, do not expect to obtain a rate lower than 2%.
It's almost impossible!
Over 20 years, the average rate (excluding insurance and fees) exceeds 2.2% and is around 2.4% over 25 years, according to the Observatoire Crédit Logement.
And there is a good chance that this momentum will continue in 2023.
To put it simply: banks finance themselves on the markets at rates higher than 2% and therefore lend at almost equivalent rates to individuals.
In other words, their margins are reduced and push them to increase their credit rate.
But this increase comes up against the famous usury rate – the maximum rate beyond which a bank cannot lend – which caused problems for thousands of borrowers 6 months ago.
“
We find ourselves in the same blocking situation as the one we experienced last summer
”, analyzes Pierre Chapon, co-founder of Pretto, mortgage broker.
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