At the start of December, the mortgage loan rate scales posted by the banks are slightly on the rise. Not enough to sound the alarm, however, for specialized brokers, who find that the financing conditions remain very favorable to borrowers.
Banks always looking for new customers to complete their annual targets; others who have already started to ease off. The French real estate credit market is crossed by contradictory trends at the beginning of December. Nothing abnormal, however, it is a classic end-of-year situation, says Mario Pelner, director of communications at Good Lenders: “Some establishments choose to increase their average by 0.10%, others, on the contrary, decrease in the same proportions and the latter remain stable. “Some national brands have increased (or will increase) their rate grids, ” confirms Cream Lending. But it is necessary to put these increases in context, explains Celia Rodrick, director of communication and broker studies.
Unprecedented craze for haircuts
It is all the most difficult for brokers to identify a clear trend as the disparity in rate offers exists not only from one bank to another, but also within the banks themselves. “We have noticed, throughout 2018, a real craze for discounts, ” explains Celia Rodrick. If the banks always send us their fee schedules, these have less and less meaning and are more and more in the order of the indicative. Confirmation from Good Lenders, which also observes very slight increases for the less comfortable profiles and always decreases and large discounts for high-end profiles.
Trend reversal in 2019?
With the end-of-year holidays, the mortgage market will offer its traditional break, period when, reminds Mario Pelner to borrowers, the processing rates of records could slightly increase . The new year will then start as the previous one ended, with scales of all durations always far below the 2% mark, promises Good Lenders.
More than a frank break, 2019 will be a year of transition, temperate on its side Celia Rodrick, of Borrowed, with trends always contradictory between and within banks, and uncertain effects: On the right, banks that always set high targets and who will therefore be keen to maintain the level of attractive rates. Left: a problem on the margins of the real estate credit activity, still tightened due to the latest regulations, a supply of goods still insufficient and a first quarter which could be wait-and-see (psychological effect purchasing power, taxes, and withholding tax). Who will win this match?