After a sharp rise since the beginning of the year, rates remain on an upward trend in September 2022, but at a less sustainable pace. In an economic context that still does not lead to a clear recovery, credit institutions provide flexibility and predictability to enable borrowers to realize their projects. Encouraging signs on the credit front for borrowers who are still legitimately concerned about their ability to get financing.
Beyond the current context, an increase in real estate rates is seen in September is also explained by regional banks catching up, which continued to achieve competitive rates even as average rates rose. In September, most of the players in the banking sector communicated stable or slightly increasing rate scalesheralding a slightly better future for the most dreaded borrowers.
Banks in battle to finance more real estate projects
In September, despite the continued rise in rates, the banks were already in battle order and did not hesitate demonstrate the flexibility to enable households to find viable financing for their real estate project.
Better, Banks seem to be anticipating a future interest rate hike on October 1, 2022 and adapt your strategy:
- offer variable or mixed rates;
- modulating their IT tools so as not to block slightly usurious files, which will no longer exist after the increase planned for October 1;
- in some cases they also try to offer lower rates.
This adaptability on the part of banks it allows future borrowers to plan more confidently for the coming months.
New solutions offered by banks
Faced with a less favorable economic situation compared to previous years and a financial market that has become more complicated, these better supported borrowers who can hope to take a property loan with a more favorable rate ! It is therefore advisable to seek the services of a real estate agent. He will use his expertise in this sector to help future borrowers find the most suitable real estate loan for their project.
While the context remains rather uncertain, most borrowers remain legitimately concerned about their borrowing capacity to realize their real estate project. It is all the more important to draw attention first to these ” There are encouraging signs on the credit front ” concludes Pierre Chapon.