Most banks have reduced their lending rates again, with decreases of 0.10 points on average. And the trend could continue in June.
Of the real estate taxes falling and a trend that is expected to continue. Vousfinancer noted that in May, most scales are in a downward trend, by 0.10 points on average. “Only one national bank that had significantly lowered its rates raised them by 0.05 points, while they remain very well positioned in relation to the competition,” specifies the broker. On average, it is currently possible to borrow at 3.65% in 15 years, 3.85% in 20 years and 4% in 25 years, but the lowest negotiated rates reach 3.4% in 15 years, 3.5% in 20 years and 3.8% over 25 years.
Julie Bachet, managing director of Vousfinancer, reminds that this trend must continue. Indeed, “banks want to offer attractive rates at a crucial time of the year for two reasons: the real estate spring but also the recovery of the market”. And she adds: “These new rate cuts are very good news, no doubt related to the anticipation of the European Central Bank’s rate cut that should take place in June. That is also why we are currently seeing significant discounts.
Decrease in the number of loan rejections
If the professionals of the sector are excited about the recovery of credit requests and above all the sharp drop in the number of loan rejections (-60% in the 1st quarter of 2024 compared to the 1st quarter of 2023 ), are concerned about the decision not to reform the High Financial Stability Board (HCSF). Julie Bachet explains: “The reform of the HCSF and leaving the banks free to assess the risk in the agreement of their loans, especially regarding the rest of their life, could have allowed a recovery in the production of credits , especially on the part of investors and first-time buyers, while of course ensuring that they maintain a reasonable level of debt.
According to the latest data available from the Banque de France, the share of loans that do not comply with HCSF decisions reached 15.9% of credit production in December 2023, more than 2 points compared to January 2023. For the benefit of investors: 18.5. The % of loans granted to investors therefore did not comply with the granting criteria (35% maximum effort rate and 25 years maximum loan duration with the exception of a few exceptions) in December against 13.6% in May, an increase of 5 points in just 7 months. Banks have the right to deviate from the HCSF rules up to 20% of their production of real estate loans, but under certain conditions.