Mortgage loan rates: decreases throughout France
The movement is now national. No more duration or region can resist the fall in mortgage rates. This month, with an average file, a loan candidate obtains 3.05% over 15 years and 3.40% over 20 years, when the best profiles can reach 2.51% and 2.85%. over the same durations.
Behind these averages hide disparities depending on where the credit is signed. Lite Lender.com takes stock region by region:
The Southwest: the palm of the best rates
True to form, the Southwest wins yet another prize for the best rates. This month the region also stands out for its downward stability : all of its average durations fell by 10 points. Toulousains, Bordelais and other Angoumoisins will therefore be happy to see that their interest rates fell in one month from 3.20% to 3.10% over 15 years, from 3.45% to 3.35% over 20 years and finally from 3.80% to 3.70% over 25 years.
West: borrowing over 20 years at the same level as those over 10 years in 2012
If the rate cuts are not as strong in the West, the region is not outdone and records a decrease of 5 points for mortgage loans over 15 and 20 years now offered at 3.10% and 3.40 %. But the greatest decline comes from borrowing over 25 years, which went from 3.85% to 3.70%. FYI, the region recorded the same rate in February 2012 but for 10-year loans… Borrowing today for 25 years in the West therefore costs as much as it did two years over 10 years! That is to say if the rates have dropped.
The North: still the most expensive region
The North region continues to post the highest rates in France. Its inhabitants will still be able to console themselves by noticing decreases of 10 points over 15 years and 5 points over 20 and 25 years. Credit applicants can therefore obtain 3.25%, 3.55% and 3.95% respectively on average. Unlike last month, a loan can therefore largely be negotiated below 4% interest.
Ile-de-France: declines in the average
The Paris region follows the same decreases as the North with rates falling by 10 points over 15 years and 5 points over 20 and 25 years. Banks therefore post an average of 3.10%, 3.45% and 3.80% over these periods.
East: – 15 points over 15 and 20 years
The Strasbourg region remains in the national average but registers among the biggest decreases with a movement of 15 points for the credits on 15 and 20 years now proposed at 3.05% and 3.45%. Those over 25 years retreat to a lesser extent, losing 5 points to stabilize at 3.85%.
Rhône-Alpes: $ 2,520 savings in one month
The region still offers some of the best interest conditions with the bonus of further reductions this month: -15 points over 15 years and -10 points over 20 and 25 years. Average files will therefore be able to obtain 3.05% over 15 years, 3.45% over 20 years and 3.85% over 25 years. A $ 200,000 loan over 15 years therefore costs $ 2,520 less in interest compared to last month.
Mediterranean: record drop
With the Rhône-Alpes region, the Mediterranean recorded the largest decreases: -15 points over 15 years and -10 points over 20 and 25 years. The average rates over these periods therefore drop to 3.10%, 3.40% and 3.70%.
Promotional rates at trade shows
Maël Bernier sees in this generalized decline “the cumulative influence of the fall in long rates but also in promotional rates distributed in the numerous salons which are currently taking place”.
The spokesperson for Lite Lender.com does not count on the duration of this phenomenon: ” This exceptional upturn in rates is not intended to last forever, ” she says. So it’s time to take advantage!
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