French Interest Rates for Home Buying Reach New Historical Low

View of Mont Boron Nice French Riviera

According to the French Interest rate monitor L’Observatoire Crédit Logement CSA interest rates for personal home purchases are at a new record low: 2.97% on average.  (read original article in French) 

Never before in France have credit rates been this low. This decline has been constant since January 2012. In January 2012 rates were 4 percent compared to the sub 3 percent right now.

The buyer’s power to buy has increased by almost 10 percent over this period of time.

However, housing prices in general in France have not gone down.

What has gone down is the number of loans banks are willing to offer. They are very cautious about giving loans at such low interest rates.

It is estimated by L’Observatoire Crédit Logement CSA that interest rates should start to increase in Winter 2013.

L’Observatoire Crédit Logement CSA suggest it is a great time to buy or to renegotiate your current home mortgage.

If you need an English speaking mortgage broker to help you get the best deal please contact us and we will help you free of charge find a professionally licensed English speaking French mortgage broker.

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