Since the start of 2024, one in five mortgage applications has been refused, compared to 34% in 2023. The drop in interest rates allows more households to access property. But be patient, borrowing in a few months could be even more advantageous.
Before taking steps with your bank, doing an online simulation will allow you to take stock of your current financial situation:
Falling interest rates: an opportunity to seize
Interest rates will continue to decrease, according to Cafpi and the Crédit Logement Observatory. They should reach 3.25% to 3.30% by December 2024. This reduction offers greater borrowing capacity for households.
For example, a monthly payment of 1,000 euros could allow you to borrow 176,000 euros at 3.30%, compared to 162,000 euros at 4.30% in November 2023. This increase of 14,000 euros opens the door to more square meters for buyers.
More real estate transactions
The drop in rates is boosting real estate transactions. With greater borrowing capacity, more households can purchase goods.
This dynamic can also lead to higher prices. If buyers flock, demand will increase and property prices could stagnate or rise in some cities. Candidates for purchase must therefore weigh the advantages and disadvantages of this situation.
Should you wait to borrow?
For potential buyers, waiting a few months could be strategic. Interest rates will continue to fall, increasing borrowing capacity.
The potential price increase must be taken into account. Buyers should monitor market trends and consult experts to make an informed decision.
| Benefits | Disadvantages |
|---|---|
| Continued decline in interest rates | Rising property prices |
| Increase in borrowing capacity | Increased competition in the market |
Waiting a few months to borrow seems a wise strategy. Borrowing conditions will be more favorable, with lower interest rates.
But we must remain vigilant in the face of a possible price increase. A balanced approach, regularly consulting with industry experts, will maximize the benefits of this favorable period.
Take advantage of this opportunity while being aware of possible market developments.
