After a summer break, the decline in credit rates continues. And “as is often the case in autumn, the average duration of credits decreases. The market is showing continued strength in November,” underlines the Crédit Logement/CSA Observatory.
– 0.83 points since December 2023
The average credit rate fell by -0.09 points to reach 3.37% in November (3.40% for new home ownership and 3.37% for existing homes), compared to 3.46% in October. .
A rate of decline in just one month identical to that observed between December 2023 and June 2024. This corresponds to a decline of -0.83 points since December 2023 on the entire market.
“In the context of a sustained improvement in housing purchase intentions, this decline allows the market to amplify its recovery,” indicates the Observatory.
4.26% over 20 years in December 2023
Thus, the average credit rate stands at 3.26% over 15 years, 3.30% over 20 years and 3.38% over 25 years, compared to respectively 4.11%, 4.26% and 4.35 % in December 2023.
4.26% over 20 years in December 2023
Thus, the average credit rate stands at 3.26% over 15 years, 3.30% over 20 years and 3.38% over 25 years, compared to respectively 4.11%, 4.26% and 4.35 % in December 2023.
Decreasing credit durations
The average duration of loans granted is 245 months (20.41 years) in November. As is often the case during the fall, the average duration of credits decreases, by -5 months since September.
“However, it remains at the high levels observed for two years. Banks thus support the drop in credit rates and facilitate the improvement in the solvency of demand. But the continued fall in rates is gradually attenuating the impact of maintaining high durations”notes the Crédit Logement/CSA Observatory.
However, 67.4% of bank loans for home ownership were granted over a period of more than 20 years.
The number of loans granted increases
“The credit market situation has improved since the start of the year. Despite the capping of effort rates imposed by the Banque de France [le taux d’endettement des ménages étant limité à 35 %, NDLR] and political-economic uncertainties which increased during the summer, the market has regained color”affirms the Crédit Logement/CSA Observatory. It benefited from the return of households, “reassured by the slowdown in inflation, while credit rates are falling and the banking offering has returned to dynamism. »
However, the market has not yet regained all of its past dynamism. Thus, credit production measured at the end of November at a rolling annual level fell further by -2% (compared to -42.9% a year ago at the same time).
However, the number of loans granted increases by +20.3% year-on-year (-41.2% a year ago): at a faster rate than production, due to the decrease in average amounts borrowed.
Business
