2023-05-14 16:45:28
For several months, homeownership candidates have faced increasingly tight credit conditions due to rising central bank interest rates. In April, the average mortgage rate, excluding insurance and fees, reached 3.15%, an increase of 11 basis points, according to figures from the Observatoire du Crédit Logement. Due to this ” noticeable slowdown Since the beginning of 2022, French banks have been considering a revision of the rules in force. The director general of the French Banking Federation, Maya Atig, told the Parisian that the banks were ready to discuss possible relaxations.
Banks ready to make efforts
In order to counter the slowdown in real estate credit, the banks have already implemented measures to stimulate the production of credit, in particular by obtaining from the authorities the revaluation of the usury rate each month until July. This measure allows banks to adjust rates more quickly to the cost of refinancing. However, faced with persistent inflation, the European and American central banks ruled out the idea of suspending monetary tightening. This situation might lead banks to lose a significant portion of their potential customers. To counter this, they are considering deductions on certain files that should have been refused according to their initial criteria.
Mortgage rates are soaring
These derogations mainly concern the rules which limit the loan to a maximum interest rate of 35% and a maximum duration of 25 years (or 27 years in the event of work prior to moving in). These derogations can currently concern up to 20% of loans, provided that they mainly affect the acquisition of a main residence and that they support first-time buyers in a third of cases. Is it possible to go further? The banks sent the ball to the authorities to find an easing.
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