Margaux Fodéré / Photo credits: Fiora Garenzi / Hans Lucas / Hans Lucas via AFP (Illustration)
While the housing market is plunged into crisis, a clearing appears to be emerging in the sky of real estate loans. Bercy and the Banque de France have agreed to relax borrowing rules and some banks are starting to lower their borrowing rates. Good news confirmed by players in the sector.
Could this be the start of a lull in the real estate market? First good news: this week, Bercy and the Banque de France agreed on a relaxation of borrowing rules. Another positive signal: home loan production stabilized in October, at more than nine billion euros. And that’s not all: some banks are also starting to lower their borrowing rates.
Lull
Reductions of around 0.10 or 0.20 points are applied by regional banks, but also national banks. According to information from Europe 1, this is the case for Société Générale. So for the moment, these movements remain marginal. The objective for these players is to find offers close to the competition, explains Pierre Chapon, the co-founder of Pretto, a search platform for online real estate loan.
“These are banks which until mid-2023 decided not to lend or in a very anecdotal manner to certain clients. Then, they returned but with non-competitive rates and now they are getting back into the market,” explains he. Contacted by Europe 1, Société Générale recognizes that the current climate is more favorable to real estate loans. Even if on average, the scales sent by banks are still stabilizing at a high level: around 4.32% in November for a twenty-year loan, according to the broker Cafpi.
For Caroline Arnould, the broker’s general manager, this is indeed the beginning of a lull. “We imagined landing at the end of the year at a 5% credit rate over twenty years. We certainly won’t go there. I think there is a consensus to say that borrowing rates will really stabilize” , she analyzes. Not everything is resolved yet. The French must also want to subscribe to bank offers again. Only a drop in prices will change the situation and it is only starting timidly.
2023-12-06 09:39:55
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