2024-01-09 19:47:06
Barthélémy Philippe // Photo credits: AFP 8:46 p.m., January 9, 2024, modified at 8:47 p.m., January 9, 2024
The financial horizon is becoming clearer for borrowers. After a complicated year in 2023, with a lot of loan refusals and a surge in real estate rates, market players are finally seeing a positive signal and, according to the broker Meilleurtaux.com, average borrowing rates are falling.
The start of 2024 might be a little sunnier for borrowers. After a year 2023 marked by a 40.3% drop in loans, this recovery is crucial for the sector. According to the broker Meilleurtaux.com, they stand at 4.05 and 4.2% for loans over 20 and 25 years compared to 4.35 and 4.50% last November. A drop in rates which comes early, according to Maël Barnier, spokesperson for Meilleurtaux.com.
The major problem remains the question of prices
“I was one of those who thought we would have that in the second quarter. But the reality is quite simple, the banks have seen the rates at which they themselves borrow fall much faster than expected and so they are returning to the market in lending at lower rates while keeping a reasonable margin,” declared Maël Barnier.
Despite everything, the obstacles are far from all being lifted for buyers. The major problem remains the question of prices. They fell in 2023, but only by 2 to 3%. Largely insufficient to compensate for the loss of purchasing power, linked to the rise in rates, and revive demand.
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