Low rates, the anti-price increase weapon
For several months, mortgage rates have not moved . They were already at 1.45% on average last June, they returned to this level in January 2019, after a slight jolt (+1 point). The Housing Credit / Observatory nevertheless specifies that in the new sector, an increase of 3 points (1.49%) was noted, due in particular to the lengthening of the duration.
In the former, the average mortgage rate is 1.47%. This stability at the floor level of the rate for a home loan is explained by the will of the banks to counter the rise in house prices and the decrease in support for first-time home ownership assistance systems.
Real estate loan offers under 1%
If the average mortgage rate is 1.45% in January 2019, this obviously does not mean that everyone is treated in the same boat. Depending on the duration, this average varies: from 1.22% over 15 years, it increases to 1.41% over 20 years and 1.64% over 25 years.
Among borrowers, a quarter of the strongest files can hope for a mortgage loan rate under 1% over 15 years (0.97%) and will be offered a contract at 1.40% over 25 years, when the files the most sensitive will come close to 2% over this period (1.90%). For your personal project of a real estate acquisition, do not hesitate to carry out in a few clicks your simulation of complete mortgage, then put in competition the different offers of the market thanks to our comparator.
Ever longer mortgage loans
If the average mortgage rate is very slightly pulled up over this month of January, it is because of the increase in the average duration: 230 months, whereas it was only 225 months at the end last year. In one year, it has increased by ten months! An unprecedented extension of the duration according to the Housing Credit Observatory.
The files relating to durations of 25 years and more represent more than 40% of the total , when those which are under the 20 years constitute less than a third of the mortgage loan contracts signed in January. It must be said that the relative cost of a property purchase has further increased: it represents 4.3 years of income, against 4.2 a year earlier.