The property ownership market is experiencing new momentum thanks to the fall in mortgage rates, following the recent decision of the European Central Bank (ECB).
On September 12, 2024, the ECB announced a further reduction in its key rates. This reduction marks a favorable turning point for buyers, by offering more attractive financing conditions.
Why is now the time to buy?
After a period marked by an increase in interest rates, which reached a peak of 4.21% in November 2023, the trend is reversing. Already in September 2024, average mortgage rates over 20 years have fallen to 3.66% on average, and the decline could continue in the coming months.
This development is excellent news for all those who wish to buy their main residence or invest in real estate.
In fact, a lower interest rate directly translates into lower monthly payments and a reduced total cost of credit, which increases your borrowing capacity. This allows you to more easily access goods that, a few months ago, seemed out of reach.
Advantageous conditions to make your real estate purchase project a reality
With rates falling, banks are quickly adjusting their offers to make home loans more accessible. Whether you are a first-time buyer, a young worker, or simply looking to invest, the conditions are ideal for you to embark on a purchasing project. In addition, with personalized support and expert advice, you maximize your chances of finding a financial solution adapted to your situation.
A promising future for real estate
Market specialists agree that this drop in rates should revitalize real estate in 2024 and beyond. With forecasts suggesting rates of between 3.2% and 3.3% over 20 years in the coming months, access to credit is improving.
The gradual drop in rates allows many buyers to return to the market or to realize a project that has been put on hold.
To find out more and get help in calculating your envelope for a real estate purchase, make an appointment with our broker partner:
Finance Consulting
Nathalie PINVIDIC
02 23 15 18 51 | 06 81 82 12 84
n.pinvidic@financeconseil.fr
In conclusion, current conditions are particularly favorable for buying. Carry out your real estate purchase project in this context of falling rates.
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