Cécile Roquelaure, director of studies at Empruntis, analyzes the evolution of rates at the beginning of January 2023. And some establishments are in the wake of wear and tear!
January rates
As expected and as announced, the banks capitalized on the increase in the usury rate (52 basis points for loans of 20 years and over), to raise their scales. Thus, without exception, all the scales received are on the rise. Increases that vary between 10 and 50 basis points.
2.65% for a loan over 20 years
It can thus be said that certain establishments are in the wake of wear. Today, it is possible to have a loan over 20 years at a market rate of 2.65%. The best files obtain over this same duration 2.10%. This represents an increase of 25 basis points in one month for market rates and also for the best profiles.
A rise in rates without tightening credit conditions
« For nearly a year now, real estate rates have followed or even chased the rate of usury“, indicates Cécile Roquelaure, director of the studies ofBorrow. And this exercise is made even more complex by the permanent evolution of the cost of money for the banks. 10-year OATs (Obligations Assimilables du Trésor) have risen considerably in recent weeks (up to 3.03% on January 2), rendering the increase in the rate of wear and tear null and void. If for a few days we observe a lull (2.81% on January 5) this will not be enough to calm things down, because it would have to be permanent to have an effect on future rates. Fortunately, the rise in rates is not accompanied by a tightening of credit conditions. From this point of view, the banks remain on the fundamentals and do not modify the eligibility criteria such as the level of income or the remainder to live, for the moment… However, taking into account the score of the Performance Diagnosis Energy (DPE) extends: for rental investment, the note may imply a refusal of financing for a main residence, or an obligation to include the cost of the work in the financing of the purchase. In this changing context, using an expert to ensure your borrowing capacity and then obtain your loan (therefore finding the bank that will finance your project) is essential!«