2023-04-30 19:54:38
Mortgage interest rates were stable in March according to Afdal’s barometer. But it is important to hurry to realize your real estate project because of the upward trend in rates. Potential borrowers must compete with banks to get the best possible deals and save money in the long run.
Interest rates on mortgages remained stable in March, standing at 4.5% for all durations, indicates the barometer of Afdal. They oscillate between 4.10% and 4.50% over a maximum period of 15 years and between 4.20% and 4.75% on longer maturities. Although the banks have not made many changes to their rate schedules, it is important to note that the differences can be significant from one bank to another and depending on the profile of the borrower. In addition, the rate trend is on the rise, which means that potential borrowers should act quickly to make their real estate project a reality. For example, a borrower who earns 25,000 Dhs per month could borrow over a period of 25 years at a rate of 4.2% at the end of last year. He could mobilize nearly 1.9 MDH. Four months later, he cannot borrow more than 1.8 MDH. If the rates for this profile rise to 5%, which is very likely, its purchasing power will drop further, to around 1.7 million dirhams. In the space of a few months, it could drop by around 200,000 Dhs. It is recommended to put banks in competition, in particular through a broker, in order to benefit from the best possible offers.
Apart from rising rates, the rise of which could accelerate in the coming months, the requirements of banks have not changed much lately, in particular for individuals, observes a professional. On the other hand, he notes a tightening of the conditions for professionals and the liberal professions. That said, each case is different and some banks can be very competitive. Especially since the economic situation could plunge demand for new loans. What grant a certain margin of negotiation to those which launch out.
If you have a real estate project in mind, it is therefore recommended to act quickly. It is important to compare the offers of different banks and take into account the rate differences, as well as other credit-related costs. This can help achieve substantial savings over the term of the loan.
1682909475
#Real #estate #Rates #stabilize #March