2023-05-13 17:51:10
Will the end of the year be synonymous with more favorable loans for future buyers? While average mortgage rates have been climbing steadily for a year, the trend might be reversed in the third quarter. The right time to get started?
The French wishing to acquire their main residence or embark on the rental investment must find the long time. Since the spring of 2022, average mortgage rates have exploded, climbing on average to 3.37% in early May according to the report by the Crédit Logement/CSA Observatory unveiled by Moneyvox. As a result, banks are now reluctant to grant loans, which have fallen by 31.9% in one year.
“We should see a stabilization of rates”
The situation should not improve immediately since a peak of more than 4% on average is expected this summer according to our colleagues. On the other hand, the end of the year might be much more favorable to future buyers. According to the Observatory and analysts, the trend might be reversed in the third quarter of 2023. “We should see a stabilization of rates and perhaps even a few slight decreases might occur”, confided a source to our colleagues from Free lunch. According to the latter, the market might also be much more “peaceful” in 2024, with lower rates and above all banks more willing to grant loans.
A change which is explained by the monthly payment of the rate of wear, which allowed the banks to reconstitute their margins following the events of the last months, while the profitability of the loans was no longer at all assured for the latter. What offer better prospects to potential buyers, who should finally see a window of opportunity to access the purchase.
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