Real Estate Credit: 2.85% in May, a historically low rate

Published on by Delphine from OltottMesz

While we have witnessed a constant drop in mortgage rates since the beginning of the year, the rates obtained in May have just reached a level never seen since the end of the 1940s as stated by 'Housing Credit Observatory / CSA.

According to the observatory, in May the average rate for a mortgage was 2.85% and that for an average repayment period of 202 or a little less than 17 years. For information, last April the average rate was 2.94%. The previous record dated from June 2013 with an average rate of 2.90%.

If we focus on the figures published by the Housing Credit barometer, we also see that more than 92% of people have benefited from a rate lower than 3.5% . The most significant decreases concern the former with a rate of 2.84% against 3.08% last December, but also and especially the works market with 2.79% against 3.12%, still according to the same period.

We also note that mortgage rates are not the only ones to decrease, there is also the repayment period which goes from 205 months in April to 202 months in May 2014, this figure has been falling steadily since the start of the year. 'year.

A drop in rates partly justified by the improvement of files.

The accumulation, reduction in the number of monthly payments plus the improvement in the personal contribution (+ 2.6% since the beginning of 2014 against -5.6% in 2013) also justify the low rates of credit currently. With a better contribution and a shorter repayment period, the rates become more easily negotiable.

Finally, mortgage loan production also seems to have fallen in the first quarter, however this drop is usual at this time of the year which is not conducive to real estate investment.

Source: Housing Credit Observatory / CSA
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