In this early year, lending granted by banks over 15 years are now well below 3% (fixed rate, excluding insurance) while in early 2012, he had to borrow almost 4% and the end of 2008, there were 5 %. However, this average hides large disparities between clients, the conditions are more or less interesting depending on the quality of the application.
But in the current economic climate, with the lack of visibility and confidence in the future of the buyers, the mortgage loan production fell by more than 33% on 2012 (Observatoire Credit Logement/ CSA). In addition, banks are seeking to refinance following Bales 3 agreements, the criteria is becoming more restrictive.
The ECB does not plan to increase its key policy rates, banks should therefore maintain low interest rate policy, but the chances of a further decrease of rates are declining. The time is more than suitable for the mortgage, repurchase or renegotiation of mortgage (but beware the additional costs and penalties that reduce the profitability of such an operation).
The total misunderstanding between buyers and sellers in 2012, give space to a tentative of rapprochement: the “opportunistic” sellers disappear and those who are forced to sell (inheritance, divorce, moving …) are now more realistic.
Prices will therefore generally downward trend in 2013 without collapsing because our beautiful region remains attractive ….
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