2023-05-10 08:10:00
Still no jump in the production of mortgages. Figures from the Banque de France show that we remained around 12 billion euros in loans granted in April, excluding renegotiations. A level that we had not reached since 2017.
It had been almost 6 years since we had descended to such a level. 12 billion euros of new real estate loans granted in April. Admittedly, the monthly decline seems to be slowing down, but over a year it remains vertiginous. Last year at the same period, the banks had still granted more than 20 billion euros in real estate loans excluding renegotiation.
Over one year, the fall is therefore more than 40%, proof of a real blockage of the market. According to brokers, average interest rates are inexorably approaching 4%. Crédixia, for example, speaks of a loss of borrowing capacity of around 30% in less than 2 years. Thus a couple who could borrow 445,000 euros at the end of 2021 – beginning of 2022 will only be able to borrow tomorrow around 315,000 euros at an equivalent monthly payment.
We understand better why credits are becoming increasingly rare. Especially since the prices in the old do not drop enough yet. Worse, those of the new, when there are some, continue to increase. Hence the showdown between the Banque de France and Bercy to determine possible solutions to facilitate the granting of loans. On this subject, the next meeting of the High Council for Financial Stability in June will undoubtedly be crucial.
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