Vacationers will be able to continue to enjoy the summer without worrying about a rise in mortgage rates.
The average credit rates over 10, 20 and 30 years are certainly up slightly but do not affect the borrowing capacity of buyers. Over 15 and 25 years, the rates remain stable.
This calm is explained by the fact that the OAT (equivalent Treasury bonds) which base the mortgage rates of financial institutions remain at very low levels, between 0.8% and 1%. This despite a slight rise in recent months. This level of OATs allows banks to maintain comfortable margins. It also helps keep rates low for individuals. However, these low rates are offset by sharp increases in real estate prices, in Paris but also in the provinces, especially Bordeaux or Rennes.
Credit rate: the prospects of the return
For the return, policy rates remain low and the ECB has planned to maintain these conditions. However, due to the pivotal period 2017-2018, a very slight rise in mortgage rates could occur.
Two subjects, however, deserve special attention: the zero-interest loan (PTZ) and the Pinel scheme. If the government makes it more difficult to obtain, some households, such as first-time buyers, may no longer be able to acquire housing. In the first half of 2017, almost 23% of first-time buyers benefited from a PTZ, for an average amount of more than 68,000 euros. The extension of the Pinel device, meanwhile, is desirable. If not, the real estate market could overheat before the end of the year.
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