French real estate just got cheaper and this is not because of falling prices this is because the mortgage rates granted to individual French real estate property buyers is now the lowest in the last 40 years.
According to the French Credit Observatory (l’Observatoire Crédit Logement – CSA) in their press release on June 2nd if you are an individual buying a house in France on the average you can get credit for 16.8 years for only 2.85 percent!
The number of French property buyers making applications for loans is growing but this does not mean everyone is getting approved.
The banks are getting even more cautious on their loaning of money to make sure they are not taking to high a risk with such a low return.
The estimate is that rates on mortgage loans will start to increase before September this year.
Contact an English speaking French mortgage broker and get an update on your financial buying power. To find a mortgage broker contact us here.
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