Banque de France Reevaluates Usury Rate Monthly to Benefit Homebuyers

As you probably know, since February 1, the Banque de France reassesses the usury rate every month, compared to once per quarter previously. This monthly revaluation was put in place to make the mortgage market more fluid, strongly impacted by the rise in rates. In June, the usury rate is increased to 4.68% for a fixed rate loan with a duration of 20 years and more. For a mortgage taken out for a period of less than 10 years, it reaches 3.99%. For loans of 10 to 20 years, it amounts to 4.45%. Finally, for variable rate loans and bridging loans, it reached 4.47% and 4.67% respectively. As a reminder, the usury rate is the maximum rate that can be offered by banks, all costs included (application fees, borrower insurance, brokers’ commission, etc.). Good news for borrowers: this monthly reassessment of the usury rate, which was initially due to end on July 1, will continue at least until 2024.