Real estate: with the monthly payment of the wear rate, the credits begin to be released

Margaux Fodéré, edited by Romain Rouillard 06:13, February 02, 2023

It was a measure eagerly awaited by all applicants for a mortgage.

Since Wednesday, February 1, the usury rate, that is to say the maximum legal interest rate that banks are authorized to practice, is reassessed every month until July.

It was also raised on Wednesday to 3.79% on loans of 20 years and over.

A relief for some French people who were unable to obtain a mortgage.

But does this measure really unlock all the credits?

The number of blocked files should continue to decrease 

In reality, this new provision mainly benefits people over 45 who pay more expensive borrower insurance because of their age.

This is the case of Stephanie, 54, who can finally hope to obtain her credit thanks to this new calculation of the wear rate.

"I found the property I want to buy, namely an apartment located in Grenoble. Last week, when I presented my file to my banker, she was very cautious because I was close to the maximum rate of the rate wear and tear. With the new rate, my file passes and can be presented to the commission". 

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The number of blocked files should indeed continue to fall, according to Caroline Arnould, spokesperson for CAFPI, mortgage broker.

"Having a ceiling that adjusts every month will make it easier for banks to lend. And you also have to see that at some point, rates will stabilize. Certainly in the spring."

For the moment, interest rates are much higher than a few months ago: 2.50% on average for a 20-year loan at CAFPI.

If real estate prices do not decrease either, buying your home remains more interesting than renting it.