French Bank breaks Trend and Increases Mortgage Rates

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If you are investing in French real estate and you are planning on financing the project the good news, according to most French mortgage brokers, is that the rates are not going up for the moment.

However, French Bank Credit Lyonnais just increased its rates overall by 0.1 percent so a 20 year mortgage is now 2.2 percent versus 2.1 percent last month.

For a 200,000 euro mortgage this is the equivalent of 8.42 euros per month states Hervé Pratt President of Meilleurtaux.

However, Hervé Pratt says he doubts this will make any change for the current market place.

The anticipation is that mortgage rates will start to rise in the Autumn of this year.

If you wish to speak to an English speaking French mortgage broker for up to date advice we can help you connect at no charge. Just contact us here.

Read the source article in French here