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Real estate: rates are starting to fall
Borrowing in 2024 will cost less, after a complicated 2023. Average borrowing rates are falling, they could even fall below 4% for the best profiles. – (franceinfo)
Borrowing in 2024 will cost less, after a complicated 2023. Average borrowing rates are falling, they could even fall below 4% for the best profiles.
Is the worst of the real estate crisis behind us? The peak in loan rates seems to have passed, but it is still not low enough in the eyes of those who want to become owners, like this podiatrist : “I think at 3% or a little less than 3%, 2.5% would be good”, specifies the man. 20-year borrowing rates increased sharply last year, going from 2.51% in January 2023 to 4.45% in November 2023. Since then, they have been falling: 4.05% in January 2024.
The decline in property prices is expected to accelerate in 2024
Good news for a real estate agent, as the number of transactions collapsed by 20% last year. The best files can already hope to obtain a rate below 4%. “I think that within 15 dayswe will tell you: ‘Rates below 4%, It’s really becoming more and more common’. We are heading towards a relaxation and towards a decline”, specifies Maël Bernier, spokesperson for Meilleurtaux.com. According to the main sector federation, the fall in property prices is also expected to accelerate in 2024.
