when the rate of wear prevents borrowing

Borrowing to buy your home has been more complicated for a few weeks. The most modest are not the only ones concerned. On the one hand, there are rising credit rates, on the other, there is what is called the usury rate, which is the maximum rate at which banks can lend money.

To calculate the rate of wear, the interest rate is added with the rate of insurance, the costs of files and guarantee. The Banque de France sets it each quarter. Today, it is down: -2.40%, while interest rates have been rising for several months.

Many French people will have to postpone their purchase project. “Today, on first-time buyers, it is overall more than 10% increase in refusal”, explains Sylvain Lefèvre, Director of the Central Financing Department. 10%, because of the rate of wear, he specifies. Industry professionals are calling for the wear rate, designed to protect buyers, to be updated in real time.