2023-07-18 12:00:40
Afdal points out in its barometer that the best 15-year offers in June were 4.50%.
Real estate : Although rates have stabilized in recent months, Afdal believes that the adjustment that took place in February has forced some homeowners to reconsider their plans.
A possible rise in mortgage rates would threaten the revival of real estate transactions. Some buyer profiles are affected by a firming of rates in 2023. This is noted by Afdal.ma, comparator of mortgage loans in its recent barometer. “Acquiring your main residence is a life project that requires thought and patience.
The realization of such a project can take several months, during which market conditions can evolve, both positively and negatively”, we learn. And to add that “although rates have stabilized in recent months, the adjustment in February has forced some property candidates to review their project. This may explain the growing interest in loans with a duration of more than 25 years since the beginning of the year, in order to cushion the impact of the increase on the monthly payments concerned”. According to Afdal, requests for financing over a period of more than 25 years represent 15% of the simulations carried out on its platform.
Requests which proved to be “almost non-existent” at the same period in 2022. In its barometer established at the end of June, Afdal notes strong interest among buyers as to the direction of interest rates. “The inflation which clings to high levels remains a disturbing element for the real estate projects of Moroccans. The quality of the files will make the difference and will allow you to benefit from attractive conditions, ”says Afdal. And to recall that “following three successive increases in the key rate for a total of 150 basis points in 2022, the Central Bank has decided to take a break, keeping the key rate unchanged at 3% following the first two monetary policy meetings in 2023. The inflation that the monetary tightening cycle is supposed to fight is slowing but remains high”.
For Afdal.ma, the update on monetary policy is necessary to understand the evolution of interest rates on mortgages for this year. “Indeed, the rise in the key rate increases the cost of borrowing for the Treasury and, by extension, those of real estate loans which are linked to the borrowing rates of the State. Despite a much more difficult context than in 2022, the quality of the files will make the difference and will make it possible to benefit from attractive conditions”, explains Afdal in this regard. According to Afdal, the best offers on 15 years in June were 4.50 and 4.75% on 25 years and more. For a loan amount ranging from 250,000 dirhams to 800,000 dirhams, the most competitive interest rate over 15 years is 4.50 and 4.75% over 25 years. For a higher amount, up to 1.2 million dirhams, Afdal estimates that it is possible to get 4.40% over 15 years and 4.60% over 25 years.
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